Binary options traders are constantly striving to discover new sources of reliable signals. This is not surprising given the significant changes in the behavior of most assets over time. Constant experimentation and the introduction of innovative methods of analyzing financial markets have become an integral part of their approach, but certain fundamental concepts still remain steadfast. Support and resistance levels are timeless classics.
This tool is in demand by more than one generation of traders, and it is this that underlies the FX Turbo Profit binary options strategy, which we will consider in this review. On the official website of the developers, this system can be purchased for $95, but from our website you can download it for demonstration purposes completely free of charge.
Content:
- Characteristics
- Installation
- Review and settings of FX Turbo Profit
- Trading rules for FX Turbo Profit
- Opening a Call Option
- Opening a Put option
- Conclusion
- Download FX Turbo Profit
Characteristics of the FX Turbo Profit Strategy for Binary Options
- Terminal: MetaTrader 4 ;
- Timeframe: M15;
- Expiration: 5 candles;
- Option types: Call/Put;
- Indicators: Symphonie Extreme Indicator.ex4, AGATA7.ex4, Auto Recommendations.ex4;
- Trading instruments: currency pairs , commodities, cryptocurrencies , stocks;
- Trading hours: active market hours;
- Recommended brokers: Quotex , Pocket Option , Deriv
Setting Up FX Turbo Profit Strategy for Binary Options
Components of the FX Turbo Profit strategy are installed in the MetaTrader 4 platform as standard. To do this, you need to add them to the root folder of the terminal by selecting “File” in MT4 and then “Open data directory”. In the directory that opens, go to the “MQL4” folder and then to “Indicators”, after which we transfer all the files there. Templates are installed in the same way, but are placed in the “Templates” folder. More detailed installation instructions can be viewed in our video:
Review and setup of strategy indicators for binary options FX Turbo Profit
The FX Turbo Profit binary options strategy consists of three indicators:
- AGATA7 – visualizes support/resistance levels on the chart, indicating the timeframes on which they arose;
- Auto Recommendations – arrow indicator without redrawing with alert;
- Symphonie Extreme Indicator is a basement indicator that acts as a filter.
The proprietary AGATA7 indicator is a universal, multifunctional technical analysis tool, the capabilities of which we described in detail earlier. Therefore, in this review we will not dwell in detail on its extensive settings. Let us only note that this is the most important component of the described trading system. Its application possibilities are so great that it itself can act as a full-fledged trading system.
The next analysis tool included in the described binary options system is the Auto Recommendations arrow indicator, which indicates potentially profitable moments for making transactions. It has no settings. All that the user can customize is the color of the arrows themselves and the inclusion of alerts, which is important. After all, their presence greatly simplifies the work of a trader using any system, since there is no need to constantly monitor the market so as not to miss the moment of concluding a deal.
The last indicator, Symphonie Extreme Indicator, is located in the basement of the chart and is designed to provide additional signals. Among its settings, we highlight the most important parameter – Price Action Filter. You can experiment with it and select the value that best suits the asset being traded. The rest of the settings can be left as default.
Its main purpose is to indicate potentially significant turning points in the exchange rate dynamics of the instrument being traded. A white dot on a blue circle with a blue stripe means an upward reversal.
While a yellow dot on a red circle with a red stripe is a downward reversal.
Trading Rules for the FX Turbo Profit Binary Options Strategy
The FX Turbo Profit binary options strategy is a trend trading strategy. You can learn how to correctly identify trends in financial markets from a special selection of articles on our website:
- How does a trend work in markets?
- Identifying and using bullish and bearish trends.
- Market phase changes .
- How to determine a flat in the market?
Why are we focusing your attention on this so much? It’s simple - trading operations in the direction of the main trend of the financial instrument increase the percentage of profitable transactions and, as a result, reduce the overall drawdown (deposit going negative). An additional advantage from trading using the signals of this system is the trader’s psychological confidence in his actions, which will definitely have a positive effect on the results.
Trading using this method is carried out on a rebound from the levels determined using AGATA7. The trader’s task is to enter at the very beginning of the emergence of a new impulse, expecting its further development in the short term. Forex speculators in such situations will be able to get the best return/risk ratio on their transactions, while binary options traders have the opportunity to open positions with a high probability of profit.
When trading in this way, the optimal place to place a protective stop order is slightly above or below the support/resistance itself, from which the rebound is traded, and the opposite support/resistance should be used as a take profit (profit-taking level).
However, like everything in this world, the described technique is also not without its drawbacks. First of all, this concerns the choice of assets and timing of trading. If you try to use this system on low-volatility instruments or during inactive market hours, you can end up with a large series of unprofitable trades or lose your deposit altogether.
To avoid such troubles, transactions should be concluded in areas with a high level of volatility : at the beginning of the European and American trading sessions .
For the same reason, we do not recommend using this technique for trading major currency pairs (majors) during the Asian session. The system does not have a built-in flat filter, which can have a very negative impact on the final result.
Call Purchase Rules
- The price approached the level above, but did not break through it.
- A blue circle with a white dot appeared in the basement indicator.
- An up arrow appeared on the graph.
- We buy a Call with an expiration of 5 candles.
Put Purchase Rules
- The price approached the level from below, but did not break through it upward.
- A red circle with a yellow dot appeared in the basement indicator.
- A down arrow appeared on the graph.
- We buy Put with an expiration of 5 candles.
Buying a Binary Option Call
To buy a Call option, you need to make sure that the price rebounds from the nearest support level. Then wait for a blue circle with a white dot to appear at the basement filter. Next, wait for the up arrow to appear. After it occurs at the opening of a new candle, open Call.
Buying a Binary Option Put
To buy a Put option, you need to make sure that the price rebounds from the nearest resistance level. Then wait for a red circle with a white dot to appear at the basement filter. Next, wait for the down arrow to appear. After it occurs, at the opening of a new candle, open Put.
The recommended expiration period is from 5 candles.
Conclusion
The Fx Turbo Profit binary options strategy is one of the options for using the author's AGATA7 indicator. Not all elements of this system are welcomed. For example, the Auto Recommendations “switcher” is clearly delayed, generating its signals when the price has already moved a considerable distance away from the level. Most likely it was added to the strategy due to the presence of an alert. There is no other significant benefit from it. You can modify the system and receive timely signals by excluding these readings from the trading rules.
But the truly noteworthy element of the system is the indicator of dynamic support and resistance levels. The price of this strategy is mainly determined by its cost, but in our opinion it may be overpriced.
When choosing a level to rebound from which you should enter the market, pay attention to the timeframes for which it is relevant (they are indicated next to the level). The more timeframes listed next to a level, the more significant it is. In any case, before using this system in practice, be sure to check its effectiveness on a demo account , using all risk management and money management methods.
Download binary options strategy FX Turbo Profit
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See also:
Psychology in trading - what does a beginner need to know?
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