The Birth of the Wave Liberator EA

Our Profit Retriever has been our most successful proven trading robot to date. One only has to look at the trading results of our Linked service which currently shows an average gain on 60 accounts of over 100% per account. LINKED ACCOUNTS

The strength and downside of the Profit Retriever is that it trades in a random fashion and is always in the market. Sometimes this results in trades getting caught trading the wrong way in a strong trend and therefore the recovery process takes longer to be effective.

The Wave Liberator takes the strength of the of the Profit Retriever (The Profit Retriever process) and adds to it a selective entry that has a well above average chance of success.

How it Works

Continuous, Set and Forget Trading.

This is a continuously trading Expert Advisor (Trading Robot) using a swing trading approach which could leave trades open for days. It has been designed for no manual intervention but setting changes that will impact future trades can be made while there are open trades.

The Robot has an Drawdown stop whereby it will close all open trade when the maximum drawdown specified by the trader is reached. This will mainly be used by Proprietary traders

The Wave Entry Technique

Overview of the Wave Liberator Settings

1. The settings are fully explained in the user manual with examples. The points are merely a brief overview of the settings
2. The Wave Liberator will trade the timeframe of the chart it is loaded on. An aggressive time frame would be the 15 minute one. The 30 Minute timeframe will be more balanced and the 60 minute time frame will be conservative.
3. The default settings below are based on the 15 minute timeframe and 30:1 leverage.
4. The Wave Liberator can trade all the currencies you nominate on one chart. No need to load it onto other charts.
5. A strongly suggested implementation process would be to demo trade the Wave Liberator for 2 to 3 weeks using the 3 timeframes mentioned above and using variations of the default settings to make sure you achieve the results you expect and to determine the best strategy to Go Live with. This period will give you time to test your broker account alignment, test the strategies and resolve any technical aspects.
6. Proprietary Traders will need to do more advanced testing to make sure they can achieve the required income to daily drawdown ratios.

Brief Overview of the above settings

1. As in most Expert4x Robots we give the trader the option to reverse the entry logic. The default logic is for a bounce trade. To trade breakouts please reverse the logic using by using the dropdown.
2. The entry logic is based on a trading range looking back a number of candles/Bars. . The lower the number the more the smaller the range used and the higher the longer the range used.
3. The top up system used a Grid.  The Gap size determined the distance between the Grid lines. The smaller the number the more risk and the larger the number the less risk. This is a key setting as top up trades will occur at each grid level.
4. Lots for the initial entry determines the size of the initial transaction. The higher this number the higher the risk and the lower the number the lower the risk.
5. Top-up Lots multiplier is the amount by which the lots sizing for top up trades will be increased. A setting of 1 will result in no increase. A setting of 1.2 will increase lot sizing by 20% every time a top up occurs. For example if you start with 0.1 lots and use a 1.2 factor your top ups will follow this sequence: Start 0.1, next 0.12, next 0.14, next   0.17 ....   To activate a true martingale sequence you would use a setting of 2 (1,2,4,8...) True Martingale is not recommended but may prove to be effective.
6. Top trades to skip. How this would work is that if the trader entered say 2 into the setting and the gap size was 15 the EA would enter the first trade as normal but the second top-up would be 3 x the gap size i.e. 45 pips away (skipping 2 trades).Normal top-ups would happen like this 0, 15, 30, 45, 60, 75 …..This setting will cause top up to be 0, 45, 60, 75 …..The lot sizing would work like this. Normal say (increase factor of 1.2) 1, 1.2, 1.44, 1.72, 2.06, 2.48….Missed top-up approach using the above example: 1, 1.72, 2.48….
7. Initial: Take Profit in pips: This is the intended take profit for the initial trade. This is seen by the broker.
8. Initial: Hidden Take Profit: This is used if you want to fool the broker into believing that your initial Take profit is the true but the hidden one is actually your take profit. The broker does not see the hidden Take Profit.  So you may have an Initial Take Profit of 30 pips but trades will close at say 20 pips (if 20 is entered into this setting)
9. Trailing stop. The trailing stop has 3 components. When it should start (how much the trade should be in profit), How far the stop should be behind the profit and how often it should update the trailing stop.
10. Basket/Market target for closure in dollars: This refers to case where there are many open trades for a particular currency (The basket of open trades). This setting tells the Robot to close the basket when it has reached a particular $ value in total. So when $20 is entered there might be $100 worth of negative trades and and $120 worth of positive trades when the basket is closed.
11. Basket/Market target for closure in pips: This refers to case where there are many open trades for a particular currency (The basket of open trades). This setting tells the Robot to close the basket when it has reached a particular positive pip count in total. This setting also takes the lot sizing into account which complicates the calculation and makes it unpredictable. Rather use the Dollar amount if you can not understand the user manual description.
12. Portfolio: Closure at maximum loss. When an amount of say $1 000 is entered the Robot will close all trades when the drawdown for all open trades reaches $1 000. This setting is of particular value to Proprietary Traders but can be used for general loss management.
13. Markets to trade. The default currencies are: USDCHF GBPUSD AUDJPY EURUSD AUDUSD USDCAD NZDUSD EURAUD NZDJPY GBPJPY EURGBP EURJPY USDJPY. Traders are free to select their own currencies.
14. Maximum traded markets: This will restrict the number of active currencies being traded at once.
15. Maximum Top up Trades per market per direction is used to restrict the number of open trades per direction
16. Hedge the same market - this setting is used to prevent or allow hedging of the same currency cross.  Use the drop down menu. The hedging envisaged, applies to the case where there are already open trades in say a buy direction for a particular currency cross (EURUSD) and the Robot identified a valid sell signal. If hedging is allowed the sell will be entered.
17. Time of day and day of the week setting allow traders to be selective about the times they want to trade.
18. Tick scaling for CFD allow the robot to cater for the trading on non Forex instruments
19. Magic number is used when many versions of the Robot are traded on the same account. change the number for every version of the robot used.
20. Remember to save settings that you may want to re-use.

Manage Risk and Profits using these Simple Settings

We do not produce optimized settings for the Wave Liberator or Proprietary Trading settings. The defaults are sufficient for reasonable results. The defaults are for a $1000 account. Simply increase the lot sizing proportionally for bigger accounts and apply the adjustments detailed below.

To lower risk, drawdowns and income consider one or more of the following adjustments.

1. Increase the time frame traded. From 15 min to 30 min or more for example.
2. Increase the look back period from 50 to 60 or more for example.
3. Increase the Price Gap from 25 to 30 or more for instance.
4. Lower the lot sizing from 0.02 to 0.01 for instance if possible.
5. Increase the take profit/hidden TP from 20 to say 25 or more for example.
6. Lower the number of currencies traded from 10 to 9 or less for example.
7. Increase the balance on your account. A $400 drawdown on a $1 000 is 40% whereas it would be 20% on a $2 000.
8. Consider increasing or decreasing the Market/Basket closure targets

While trading these changes can be made at any time and will only impact future trades. This is however done when there are no or very few open trades. Ideally, it is best to demo trade for a week or 2 to make sure you are getting the results you expect and make any changes prior to trading live.

To increase risk, drawdowns and income and possible returns do the opposite of the above suggestions (Instead of increasing, decrease)

Those traders who would rather use their own optimization results are obviously free to do so.

For aggressive results use the 15-minute timeframe. Use the 30-minute time frame for balanced results and 60-minutes for conservative settings.

Trading Results

World Class Support

Comparing the RSI and Wave Liberator

The RSI Liberator and the Wave Liberator

The relationship between the Wave Liberator (previously the Prop Crusher) and the RSI Liberator is that they use different entry logic. The Wave Liberator use recent lows and recent highs to enter trades either against the trend or with the trend. In test performed the RSI entry logic showed higher success rates and lower drawdowns. The Wave Liberator and  the RSI Liberator will be launched on the same day and can be purchased individually or as a bundle at a substantial discount.

PURCHASE HERE

• The Wave Liberator can be purchased on its own or as bundle with the RSI Liberator (Liberator Bundle). The pricing options are shown below.
• Crypto prices are the same as PayPal and not further discounted.Please click on this link if you want to use this option CRYPTO
• Please read the important purchase information below before buying
• When purchasing you get access to both MetaTrader 4 and MetaTrader 5 version of the Robot
• Upgrades are FREE

Important Purchase Information.

1. Each purchase entitles you to use the Robot(s) as often as you like on as many broker accounts, platforms and charts. The only limitation is that you can not use the Robot on more than 2 computers at the same time. There is no need to register the computers you intend to use - the Robot will automatically know it the EA is used on more than 2 computers. A VPS service, laptop or Desk top is regarded as a computer. Additional licenses for 2 more computers are available for purchase from EAFactory website at $240 per original purchased Robot
2. Purchase are not refundable at all, except for technical problems that can not be resolved by our technical support
3. The Robot comes with no guarantee or promise of profitability - it is the traders responsibility to test and use the RSI Liberator in a profitable manner

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