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REGISTER PARTICIPANTS Indicator Royal Wave Pro Mt4 Mt4

Discussion in 'Technical Indicators MetaTrader 4' started by James Goldman, Nov 1, 2020.

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  1. James Goldman

    James Goldman Moderator
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    Royal Wave Pro MT4

    #royalwavepromt4

    royal-wave-pro-mt4-logo-200x200-2409.png

    Royal Wave is a Trend-Power oscillator based on a price adaptive algorithm that runs statistical analyses on the price movement to predict
    and locate low-risk entry zones and exit zones. Its rich alerting system generates well-timed trading signals that give the trader
    enough time to make proper logical trading decisions.

    Features

    • Trend-Power Algorithm
    • Low-risk Entry Zones and Exit Zones
    • Predictions for Overbought and Oversold areas
    • Rich Alerting System ( Sound Alerts, Phone Notifications, Zone Flasher, ... )
    • Oscillator range from 0 to 100 makes it easy to understand the signal
    • Multi-Timeframe and Multi-Currency Analysis
    • Signal Matrix
    • Cross Window
    • No Repaint
    Important!

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    • Please don't hesitate to contact me directly if you have any question or difficulty related to this
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    • Watch the
      video<
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    • Read the What's new section of this page to learn more about the latest updates and improvements.
    Entry Zones

    Once the oscillator value is about zero it means there’s going to be a big movement in the price in the near future because traders in most
    timeframes are agreed on the current price and have united to move the price by a big step in one direction. Therefore Royal Wave tries to
    predict low-risk entry zones where price wants to move only in one direction until the oscillator reaches the exit zone. Entry zones are
    always going to be the close enough start of a big movement in the price.

    Exit Zones

    Once the oscillator is in the exit zone close to 100, it’s predicting an overbought when the color is yellow or
    an oversold when the color is blue. This zone can be used to exit a trade or update a stop loss level because of the high probability of
    reversals in these areas.

    Exit Zone points are potential candidates to be global reversal points in a trend. By using the Royal Wave Signal Matrix,
    some of these areas can be identified as low-risk areas to enter a reversal trade.


    Trend and Power

    The value of the oscillator represents the current power of the trend which oscillates between 0 and 100. When the power is rising, a
    yellow color indicates a strong uptrend and a blue color indicates a strong downtrend. A decreasing power shows consolidation
    which means there is no trend in the price and the trader should wait for the entry zone.

    Signal Matrix

    Gives an informative view of several symbols vs all timeframes in one matrix. Each cell of this matrix is a brief representation of a
    symbol’s price behavior from a single timeframe.

    Cross Window

    See and compare data from an arbitrary symbol and timeframe within a chart with a different symbol and timeframe. This tool can be used to
    develop multi-symbol and multi-timeframe strategies.

    Test Recommendations

    • Use different values for Alpha and Beta. Test both 0.1 and 0.2 values for Alpha on
      different timeframes.
    • Alerting functions, Signal Matrix, and Cross Window might not work in the test process
      properly. it's the MetaTrader restrictions for playing sounds and drawing objects in the strategy tester.
    Input Parameters

    Parameter Name

    Type/Range

    Default Value

    Description

    Symbol, Timeframe
    Text
    The indicator symbol and timeframe can be different from its chart symbol and timeframe.

    Sensitivity
    0.0 to 1.0
    0.6
    Makes the oscillator sensitive to local price movements. The closer to one, the more sensitive the oscillator
    gets.

    Alpha
    Beta

    0.0 to 1.0
    Alpha = 0.2
    Beta = 0.05

    To catch longer trends and for noise canceling increase Alpha and Beta. To get a global conformation for
    the trend you can add a second Royal Wave with a higher timeframe or higher values of Alpha and Beta.

    Smooth Period
    1 to …
    5
    Makes the signal smoother. Enter 1 if smoothing is not required

    • Sound Alert
    • Zone Flasher
    • Push Notifications
    • Email
    • Alert Window
    [/b]
    true / false

    • Entry Zone and Exit Zone sound alerts
    • By flashing the zones attracts the trader attention to the proper chart which potentially needs some trading actions
    • Sends notifications about trade zones to the trader’s phone
    • Sends alert emails
    • Uses the MetaTrader alert window to alert zone events

    royal-wave-pro-mt4-screen-4672.png royal-wave-pro-mt4-screen-1444.png royal-wave-pro-mt4-screen-4422.png royal-wave-pro-mt4-screen-8533.png

     
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