Forex on waves Woolf Robot review:
The Forex on waves Woolf Robot opens orders using the Wolfe waves indicator, also uses the Martingale and smart Trailing Stop, Stop Loss and Take Profit.
Trades are always protected with STOPLOSS, Smart Trailing and Breakeven. This EA is easy to use.
The EA has proven results on EURUSD M5, however you can change the settings for better results on other currencies.
- Setting EA – Settings of the Advisor.
- Invest More – at the value ‘true’ the lot size increases as the account balance grows.( Risk Management ).
- Invest Risk – increase the lot size based on balance.( Risk Management % ).
- Lot – fixed lot ( if “Invest More” = false ).
- LotMulti – multi lot.
- Magic – The magic number of the orders.
- Slippage – allowed slippage before an order triggers.
- Take Profit – take profit in points.
- Stop Loss – stop loss in points.
- Smart StopLoss – at the value ‘true’ the stop loss is adjusted according to the price movement.
- Auto Break Even – at the value ‘true’, auto protection (by a stop loss) at high load on the balance.
- Use Break Even – at the value ‘true’ the price of the stop loss is moved to the breakeven, if the price is above the target points.
- Breakeven Target PipsInp – if the price exceeds this value, breakeven is triggered.
- Breakeven Jump PipsInp – stop loss is moved to breakeven using this value.
- Trailing Stop – trailing points, when the position is in profit.
- Trailing Step – trailing step, when the position is in profit.
- limit orders – the maximum number of orders.
- Step orders – step between orders.
- Setting waves Woolf – Settings for the Wolfe wave indicator.
- MaxHistoryBars – the number of past bars to check.
- Depth – the minimum number of candlesticks on which the indicator will not plot a second High/Low, if the conditions of the first parameter are suitable for the plotting to take place.
- Deviation – the minimum values of the amounts of points between Highs and Lows of two adjacent candlesticks for the indicator to form a local peak or bottom.
- Backstep – minimum amount of candles between local Lows and Highs. Changing the parameter affects the indicators’ sensitivity. If we reduce the data for the system calculation, the amount of extremums is increased.
Copy and paste the file into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)