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.

The robot reviews the selected currencies for times where they make new highs or new lows when breaking out of a predetermined range. This is a technique used very successfully by a group of traders who were know as the turtle stock traders. It identifies entries using the close of candle basis and enter a trade 1) in the direction of the breakout or 2)treats that price action as a bounce opportunity and trades against the breakout. It is the traders choice which strategy will be used. The default is the bounce strategy which was found to be slightly better. The trader can also determine the look back period for the range to be used.

If successful it will close the trade at a profit when the target or hidden target is reached. There is a trailing stop option.

If the trade moves against the intended direction it will open additional trades in the same direction as the original trade every Gap size travelled (See the settings). Trade lots sizes will depend on the the multiplier factor used. A group of open trades is called a run or basket. When the total profit of the Run or basket of open trades reach the Dollar or pip amount specified in the settings the Robot will close all the open trades in the run.

This is a continuously trading Expert Advisor (Trading Robot). 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.

See The Expert4x Wave ForexLiberator EA