Waverunner Forex Robot Review

Waverunner Forex Robot is an expert advisor that works on the Metatrader 4 trading platform. According to the vendor, it has generated a total profit of $38,376 during the last 30 days. We need to verify this claim and analyze the other aspects of the system in order to determine whether it is reliable or not.

Is this the perfect trend system robot?

On the official webpage, the vendor has explained the trading scheme in detail. We have the results presented in a tabular format but there is no backtesting data to be found. The vendor has also listed the main features of the robot and shared the pricing details. 

The parent company behind Waverunner Forex Robot is known as Forex Robot Trader. It was founded by Don Steinitz, a former gambler and trader. The team consists of MQL5 programmers, but the vendor has not revealed their identities. There is no way to verify the background of the founder. Other products from this team include Odin, Vader, Falcor, Reaper, HAS, Pterodactyl, and Hedge.

This Forex EA works on all pairs and timeframes. It is capable of working automatically with 4 or 5 broker digit pricing. By purchasing the EA, you get access to multiple custom indicators and templates. Waverunner Forex Robot uses trailing stop losses with each trade. It also has an automatic money management feature that allows it to calculate the lot size based on the account balance. 

You can adjust the EA inputs as moving average modes and applied price types. It is possible for the user to adjust all color and text objects. The system uses an Elliott Wave trading scheme combined with the ZigZag indicator. This strategy is based on the Dow Theory and it involves monitoring and identifying the repetitive wave patterns. 

The main assumption of this strategy is that you can identify and measure market movement via a repeating eight-wave sequence comprising a recurring 8-wave sequence. Among these, 5 waves are impulsive and 3 are corrective. 

How to start trading with Waverunner Forex Robot 

You can currently buy this EA for the price of $49. The original price of the EA is $199, but the vendor is currently offering a 75% discount. Unfortunately, the vendor does not offer a money-back guarantee for this robot.

Waverunner Forex Robot can conduct trades without human intervention. Although it operates on all timeframes, the vendor recommends using the M30, H1, and H4 timeframes for the best risk/reward ratio. For the H1 timeframe, the stop loss is 60 pips while the take profit is 150 pips.

Waverunner backtests

The vendor has not shared the historical test results for this EA. Most traders look for backtesting data to check the long-term performance of the EA. These tests go on for a long time and pit the EA against different market conditions. Without them, it is not possible to assess the robustness of the system.

Trading results

The vendor has not shared the verified trading statistics for this robot. Serious Forex traders always look for results authenticated by third-party sources like Myfxbook, FXStat, and FXBlue. On the official website, we have the results presented in tabular format, showing the open and close type, price, stop loss, take profit, commission, taxes, swap, and profit. 

From these results, we cannot see some important parameters like win rate, profit factor, and drawdown. As such, we cannot get a clear idea about the system’s performance.

Customer support

We don’t have an official email address for the customer support team and the website does not have live chat functionality. You can send the team a message using a contact form. There is a support center where the vendor claims you can find helpful guides and resources. However, we didn’t find anything on the page.

People feedback

We were unable to find any user reviews for this EA on the web. Without them, we cannot tell what kind of experience Forex traders have had with this system.

Conclusion

Advantages

• Affordable price
• History of building other Forex robots

Disadvantages

• No money-back guarantee
• No verified trading results
• No backtesting data

There is no verified live trading account for Waverunner Forex Robot and this prevents us from analyzing the real-time performance and determining the system’s profitability. The vendor has not even shared the backtesting data and does not entertain refund requests.