The ForexWave EA is built to trade in one or both directions of the market, you need to have an MT4 account with a broker that
allows hedging.
It can be run on several pairs at the same time and it is fully customizable.
This robot is mainly designed to scalp and perform a grid strategy. It will open additional buys or sells when orders are going in the wrong
direction.
When opening one or multiple grid orders the expert advisor will automatically calculate the breakeven point and you can set the take
profit from this point.
There are 3 different trading types and you can also set specific trading hours.
For additional information you can contact me through MQL5
Recommendations
- There is no minimum account size to use this expert advisor but I recommend at least 100$ although depending on the settings it can be
considered as high risk. - It is always recommended to have low spreads in Forex for best results.
- A period of testing should be conducted to optimize all parameters as they would be different for each currency pairs.
- Choose in which trading session you want the ForexWave to operate or you can leave it running on all trading
sessions.
Trading types
- There are 3 trading types which you can select to run the EA.
- Let it roll : This technique will continue trading even when the Initial TP, the SL or
the Grid Order TP is reached. - Stop trading day (Grid TP/SL) : When you set a specific trading time, if the Grid Order TP or
the SL is reached, the EA will close all orders and resume trading only on the next day. - Close all and restart : If the buy or the sell reaches the Grid Order TP or the SL, the
EA will close all open orders but it will reopen a buy and a sell with the initial lot size.
Parameters
- TradingType : Let it roll / Stop trading day (Grid TP/SL) / Close all and restart
- Initial Trade Base : Originally set to BUY