The Reversal Scalping Indicator was originally intended for the Forex market , but some advise using it for binary options , as it generates signals in the form of arrows. In addition to signals, the Reversal Scalping Indicator v 1.08 has levels (support/resistance) and several useful panels for trading binary options, which we will discuss further.
Also note that the Reversal Scalping Indicator for binary options is a paid indicator and the price on the author’s website is €179, but you can download it for free from our website for review.
Characteristics of the indicator for binary options Reversal Scalping Indicator
- Terminal: MetaTrader 4 .
- Timeframe: M1-D1.
- Expiration: no (the indicator is extremely ineffective for binary options trading).
- Types of options: Call/Put.
- Indicators: Reversal Scalping Indicator.ex4.
- Trading instruments: currency pairs , stocks, cryptocurrencies , commodities.
- Trading time: 8:00-20:00 Moscow time.
- Recommended brokers: Quotex , PocketOption , Deriv , Binarium .
Installing the Reversal Scalping Indicator for binary options in MT4
The indicator is installed as standard in the MetaTrader 4 terminal.
MetaTrader 4 instructions for installing indicators:
Review and settings of the Reversal Scalping Indicator for binary options
The Reversal Scalping Indicator, as mentioned earlier, consists not only of signals for binary options , but also of various information panels that can help in trading both binary options and the Forex market. And there are three such information panels:
- Trade information panel;
- Panel indicating trend direction;
- Session panel ( time of trading sessions ).
The indicator settings allow you to enable/disable any of the panels and enable/disable alerts, but regarding signals you can only configure their display:
Returning to the information panels, the panel, which is located in the upper left part of the chart, is responsible for trading information, from which you can learn about:
- Current trading asset;
- Spread;
- Time until the current candle closes;
- Daily change in price since the market opened;
- The currently relevant trading signal;
- (For the Forex market) Market entry price;
- (For the Forex market) Take profit;
- (For the Forex market) Stop loss.
The panel from the lower left part of the chart is responsible for determining the current trend on different timeframes and can also show flat , and not just the market direction:
The third and last panel is a panel with indications of currently open trading sessions:
The signals of the Reversal Scalping Indicator v 1.08 are made in the form of arrows and are accompanied by different marks that indicate whether the signal was profitable or unprofitable:
Also, when a signal appears, micro levels always appear, which show where the entry price was and where the take profit and stop loss are located (it makes sense to use only for the Forex market):
Trading rules using the Reversal Scalping Indicator for binary options
As can be seen from the Reversal Scalping Indicator for binary options, trading with it is easy, since all that is needed to make transactions is receiving a signal. And the green arrow indicates a Call or Buy signal, and the red arrow indicates a Put or Sell signal. Expirations can be used in the amount of 10 candles from the current timeframe, but we’ll talk about trading in more detail later. Also, the indicator, as mentioned above, is equipped with alerts that appear along with arrows:
There are also some tips that can help increase the chances of a successful trading outcome. And when making transactions, you should pay attention to the trading session, since it is best to make transactions when the London and New York sessions are open. It is also worth noting how long the trading asset has already passed since the market opened, and if the rise or fall is more than 150 points, then it is better not to make transactions on this asset:
Additionally, you can take into account the trend panel, since it is not very sensitive to short price fluctuations and often shows the real direction of the market quite well:
| Flat | Trend |
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Signals and trading using the Reversal Scalping Indicator v 1.08
Now that the rules for trading using the Reversal Scalping Indicator have become more clear, it is worth discussing the most basic things. And according to the author of the Reversal Scalping Indicator, it has statistics of 85% of profitable signals, which, of course, is incorrect information. You can also read on the website of the creator of this indicator that the algorithm on which this indicator for binary options and the Forex market is based is a very complex mathematical model that can record market reversals and determine the beginning and end of trends, which also has nothing in common with reality.
Taking a closer look at the historical signals, you can see that much less than 85% of them are profitable:
Of course, this does not mean that the Reversal Scalping Indicator v 1.08 is not suitable for trading, and if you test it and apply signals only according to the trend, you can achieve a result approximately equal to 70-80% of profitable transactions when trading on the Forex market. But only experienced traders can do this. Beginners should not use this indicator in trading.
Speaking about binary options, it is better not to use this indicator for them (especially for beginners), since it is almost impossible to select expiration due to the following signals, which are the majority:
As you can see from the image above, the Reversal Scalping Indicator gives signals, after which the price can go in the opposite direction for some time, and only then turn towards the signal, which means it is very difficult to use them for binary options.
Conclusion
As you can see, the Reversal Scalping Indicator for binary options and Forex can be used for trading on the Forex market, and then only after testing it on a demo account , as well as after checking it on history. If you plan to take all the signals in a row, then you should count on a maximum of 60% of profitable signals.
Speaking of binary options, it will be very difficult to use this indicator due to the fact that before reaching the profit point, the price may still go in the opposite direction for some time, which means that it is not possible to select an expiration.
Despite this, if you plan to use the Reversal Scalping Indicator in your trading, do not forget about the rules of money management and risk management , and also choose only a trusted broker, which can be found in our rating of binary options brokers .
Download the Reversal Scalping Indicator for free
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See also:
How to make money on binary options
Pros and cons of trading binary options
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