The WaveSignalAdvisor (WSA) is an expert advisor for MetaTrader 4/5 that also provides an additional trend channel indicator.
The WSA indicator displays the dynamics of the selected market within a channel. Based on this and some other calculations, the WSA Expert issues signals that are not executed automatically. However, you can quickly execute them yourself from the expert panel.
It is also possible to automatically set the risk, volume, and stop loss pips according to selected parameters.
Furthermore, there is a freely movable dashboard with additional useful information, such as several moving averages on various timeframes.
The signals are generally trend-following.
A virtual account displays, based on a 1-lot order size, the current profit & loss as well as the largest loss, largest gain, and realized profit/loss based on the proposed signals.
The dashboard contains the following expandable/collapsible information:
- Performance of the virtual trades
- Current market with spread and a factor relative to the nominal spread (Purpose: is the current spread good?)
- Display of the real positions with live profit & loss. Also, the costs until stop loss and/or take profit (if set) are shown. These costs are additionally displayed as a percentage of the balance.
- A matrix of several moving averages on different timeframes that shows the current performance of the averages as a percentage relative to an average value, including the sign (for example, MA 50, H1 20% means: The 50-period moving average in the H1 chart is 20% above the average).
- MACD 20 and RSI 14, also in various timeframes.