- April 20, 2023
- Posted by: Forex Wiki Team
- Category: Free Forex EA
Trend Wave EA Review
As an expert in forex trading, I have come across many trading tools and strategies. In this article, I would like to introduce you to a trading product called "The Trend Wave." This EA is a trading robot that uses the Trend Wave indicator to identify the beginning and the end of a new wave trend movement.
The Trend Wave indicator is an oscillator that identifies the overbought and oversold zones. It works great to catch the short-term price reversals and uses a martingale strategy to close all trades in profit. With this strategy, the EA doubles the lot size of the next trade if the previous one ends in a loss until it hits a winning trade.
To use The Trend Wave EA you need to have an account that allows hedging. Hedging is a risk management strategy that involves opening multiple positions in opposite directions to offset the risk of one position. The EA works best with default settings on m15 or higher time frame on any of the following pairs: cadchf, audcad, eurcad, eurusd, gbpusd, gbpaud, eurgbp, euraud, nzdusd, usdcad, usdchf, xauusd, usdjpy.
Best Brokers List
The Trend Wave EA works with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:
Trend Wave EA Setting
Parameters:
- Max Buys - the maximum number of buy orders that the Trading Advisor can open.
- Max Sells - the maximum number of sell orders that the Trading Advisor can open.
- Comment - comment on orders.
- Lot - the starting lot.
- Use dinamic lot - use a dynamic lot.
- Martin - the coefficient of increasing the lot.
- Grid distance - the distance between orders.
- Maxlot - the maximum lot.Take Profit - take profit.
- Stop Loss points - stop loss in points.
- Stop loss % - stop loss as a percentage of the deposit.
- Overlap-enables the algorithm for reducing the drawdown in which the last profitable and the first unprofitable order is closed.
- Overlap after X trade - from which order the drawdown reduction algorithm will be enabled.
- Maperiod - Ma using at Rainbow indicator for enter.
- Next, the parameters for drawing graphics.
Trend Wave EA In Action
Using The Trend Wave can be an effective way to identify trends in the forex market and make profitable trades. It is important to note that no trading tool or strategy is foolproof, and there is always a risk involved in forex trading. It is recommended to practice proper risk management and use The Trend Wave in conjunction with other trading tools and strategies.
Conclusion
The Trend Wave EA is a trading robot that uses the Trend Wave indicator to identify trends and make profitable trades. It is an effective tool for forex trading, but it is important to use it in conjunction with other trading tools and strategies and practice proper risk management.
Trend Wave EA Free Download
We highly recommend trying the Trend Wave EA with ICMarket demo account. Also, familiarize yourself with and understand how this system works before using it on a live account.
To ensure the proper functioning of this forex robot, please note that it requires the “msimg32.dll” DLL file to be placed in the root of MT4. However, we are not the authors of these files. To keep your PC safe, we highly recommend installing MT4 on a virtual machine and running the EA through it.
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