FX Rogue Wave
FX Rogue Wave is designed to work in a couple different ways: manual and automated.
The human mind can see patterns that might not be visible to all the indicators in the world.
What defines flat where the ocean or the market is concerned?
In manual mode, FX Rogue Wave is a tool in your tool box.
You place the FX Rogue Wave EA on a chart whenever you would like it to trade.
It will do the rest. But you have to place it. When you do, this is what will happen.
It will establish Entry and exit points based on the Highs and lows of an established number of candles in the past.
These entry points will lock in place until the EA is reset or certain conditions are met.
One order will be placed on chart if an entry line is crossed; Long order for top entry point being crossed or Short order if lower entry point is crossed.
Stop loss will be just before the opposing entry point or value in pips as set in the user defined variables (whichever is less).
If an order closes in loss, the EA will wait until there is a breach of the same or opposing entry point,
in which a new order will be opened at the same or higher lot size based on order value sequence as defined by the user (you).
Series will repeat until last order in sequence closes in loss, EA is removed from chart, or losses recovered.
In automated mode, you simply tell it what time each day you want it to prepare for trading.
It will initialize itself at that time and wait for the conditions stated earlier.
As you can see by the results below, more often than not, the same conditions happen prior to the NYSE open. Y
ou could set the EA to open at this time every day. It’s completely up to you.
The results below were gained from trading the EURJPY 30m chart at 12:00 GMT.