Snake Wave Strategy
Snake Wave Strategy:
This is a Hedge expert, it relies on RSI for an entry ( Above RSILimit;Buy, Below RSILimit;Sell).
it starts by opening the corresponding order with an (InitialLot) ,setting (FixedTPSL) as stoploss and takeprofit equally, and setting an opposite pending order based on the percentage (DifferencePercentage) assigned on the (FixedTPSL) variable and so on with multiplication of the lot using (LotMultiplier).
Ask : 1.2222 , Bid : 1.2220
First Order : Buy at 1.2222
DifferencePercentage : 20%
FixedTPSL 30 Pips.
Initial Lot : 0.01
Lot Multiplier : 3
- it will set the pending Sell order at 1.2216 , (6 pips below the open price) with 0.03 Lot
- when this pending Sell Order is hit, it will be activated and it will place a Pending Buy order at 1.2228 ( 6 pips above the open price) with 0.09 Lot
and so on.
there is a couple of ways to control your Lot growth:
MaxHits ( can be ignored if 0 ) : integer number of allowed reflections since the initial order.
LotMax ( can be ignored if 0 ) : setting a limit to Lot growth preventing it from multiplication on next hit ( max lot possible is LotMax).