Wave Fighter Advisor

Recently, advisors distributed on various websites through affiliate programs have become increasingly popular. Typically, the expert advisor is sold for a hefty price, and right there on this page is an offer to get the robot for free by registering using an affiliate link.

You can also find websites online whose purpose is directly related to distributing robots for affiliate registrations and which offer no meaningful value to experienced traders.

In fact, all of these sites actively promote their developments with a massive advertising campaign, claiming the profitability of their robots and your promising future if you take advantage of their offer. But how profitable are the advisors from these sites?

Can they generate stable profits for their owners, and what is the benefit of giving away the goose that lays golden eggs?

The Wave Fighter advisor is a typical example of the kind of expert advisors that are given away completely free upon affiliate registration. The advisor was first publicly revealed around 2015, when their website was launched. The basis of the expert is two-sided MartingaleWave Fighter itself is a multi-currency expert advisor, working on five currency pairs simultaneously. The expert advisor doesn't have any tricky strategies, so it can essentially be used on any time frame, and the results won't significantly change.

Installing Wave Fighter

Before reviewing the settings and testing the EA in the strategy tester, scroll to the bottom of the page and download the Wave Fighter EA. Once downloaded, proceed to installing it in MT4. To do this, open the File menu in the running trading platform and find the "Data Catalog" menu item.

After launching it, you will see a list of folders, among which we find the expert and drop the downloaded advisor into it.


After you've placed the expert advisor in the appropriate folder, simply close the data folder and restart the trading terminal. After restarting, go to the navigator panel and open the Expert Advisors tab. Drag Wave Fighter onto the currency pair chart.
 
Advisor Strategy Settings

The developers of Wave Fighter have implemented a simple yet effective strategy. The EA opens two simultaneous buy and sell orders. If the price moves against you, the EA begins to build a martingale order network, but the second order repeatedly collects profits from the market while the EA builds its network against the trend.

This mechanism allows you to make a profit even if you're against the global trend. Then, if the market pulls back, the series of orders is closed and the process starts all over again. Despite the developers' claims that the expert advisor has a complex filter that can determine the market trend or flat and depending on this, the expert's work is adjusted; in practice, such an algorithm has not been found.

In fact, this strategy is implemented multi-currency, namely, martingale works with five different currency pairs, but with a minimum lot.


The advisor is multi-currency and works with the following currency pairs: EURUSD, ERJPY, AUDJPY, NZDUSD, USDJPY. You might be wondering why this specific set of currency pairs? Firstly, the pairs are selected in such a way that there is no direct correlations, and they also have a very good spread.

In the settings, you can enable each currency pair by selecting True or disable it by selecting False. The settings are further divided into currency pair blocks, but share common parameters. For example, in the line

The coefficient specifies the multiplier by which the robot will multiply the new grid lot if the price moves against the market. The "Minimum distance between orders" line specifies the distance between grid orders in points. You can also set the profit in points or the deposit currency in the parameters. That's all the settings.

Testing

Since the robot was developed in 2015, we decided to test it on the hourly chart of the EUR/USD currency pair with default settings. As a reminder, the expert advisor has a minimum lot size of 0.01 with a deposit of 10,000 (100 dollars per cent accounte). Result:

 
As you can see, the advisor almost doubled the deposit, but by the end of the year, it had completely lost everything. If you look at the number of trades closed during the year, you'll see over nine thousand closed trades.  

In conclusion, it should be noted that the expert advisor is designed to generate commission income, not to generate profit for the trader. Just imagine that the expert advisor makes over 9,000 trades per year, which allows the person who attracts you to earn at least twice your deposit spreade.

It's also worth noting that behind the cool advertising lies an extremely simple operating algorithm, which, with proper optimization, can bring small but stable profits to the trader.

Download Wave Fighter Advisor