The binary options strategy TRX Pro Scalper attracts attention with its versatility and flexibility. Various operating modes allow you to customize its signals for different trading styles: from short-term scalping to swing trading. An additional advantage is the presence of an alert system and ease of use.
We invite you to analyze how this strategy works together. In this review, we will look at all the nuances of trading using this system, describing its advantages and disadvantages, and also find out how effective it is and whether it is worth the $25. After reading the review, you will learn how this strategy will help improve your trading.
Content:
- Characteristics;
- Installation;
- Review and settings;
- TRX Pro Scalper trading rules;
- Specifics of application;
- Conclusion;
- Download TRX Pro Scalper.
Characteristics of the strategy for binary options TRX Pro Scalper
- Terminal: MetaTrader 4
- Timeframe: M1
- Expiration: 1 candle
- Option Types: Call/Put
- Indicators: Average Daily Range.ex4, TRXDash.ex4, TRXProScalper.ex4
- Trading instruments: currency pairs, commodities, cryptocurrencies, stocks
- Trading time: 8:00 - 21:00 Moscow time
- Recommended brokers: Quotex, Pocket Option, Deriv, Binarium
Setting up a strategy for binary options TRX Pro Scalper
TRX Pro Scalper strategy indicators are installed as standard in the Metatrader 4 platform. 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, you need to go to the “MQL4” folder and then to “Indicators”, and then move all the files there. Templates are installed in exactly the same way, but are placed in the “templates” folder. For more detailed installation instructions, see our video:
Review and strategy settings for binary options TRX Pro Scalper
The TRX Pro Scalper strategy consists of three indicators:
- Average Daily Range - the average daily range (ADR) indicates how much the price of an asset changes during the day. This is the average between the highest and lowest prices over the past few days. It shows how much the price has changed over previous periods: day, week, month, 5 days and six months, as well as other intraday data.
- TRXDash is an information panel that displays the currency pair code, the selected time frame, the asset price and spread, the remaining time until the candle closes, the direction of trends at different time intervals and other useful information.
- TRXProScalper is a signal indicator and additional information panel showing the strength of the trend, the type of the last signal, the selected time interval, the currency pair code and the name of the template used. Some data in this panel is duplicated from the main one, which raises questions about its necessity.
Signals for buying Call options look like a green diamond under the candle, and for buying Put options - a red diamond above the candle.
Each of these indicators has many settings. For example, in the Average Daily Range settings, you can adjust the font size, color, and placement on the screen.
In the TRXDash settings, the user selects the statistical data he is interested in for display on the chart, as well as their appearance.
The settings of the TRXProScalper signal indicator indicate the calculation period, the location of the panel on the screen, the sizes of stop loss and take profit (if you trade on Forex), and also enable alerts.
In terms of the set of components, this trading strategy is similar to the indicator for binary options Ultimate Trend Signal , which we wrote about earlier.
TRX Pro Scalper Trading Rules
The TRX Pro Scalper binary options trading strategy generates signals to open positions both in the direction of the current trend and against it. To reduce the number of false signals, we will add a filter in the form of an RSI oscillator with a period of 8 and will interact only with those signals that coincide with the crossing of the 50 level.
In the figure above, we see that strategy signals that coincide with the intersection of level 50 of the RSI(8) indicator bring profit, while signals without this filter bring losses. Therefore, we decided to exclude them by applying our additional rule for entering the position.
Buying a Call Option
- A green diamond appeared
- The RSI oscillator crossed the 50 level
- At the opening of the next candle, buy a Call
Buying a Put Option
- A red diamond appeared
- The RSI oscillator crossed the 50 level
- At the opening of the next candle, buy Put
It is recommended to select an expiration time of 1 candle. Select the period for holding positions depending on the financial instrument and the results of testing on historical data.
Specifics of using the strategy for binary options TRX Pro Scalper
At will, a trader can customize this strategy for himself, adjusting the accuracy and frequency of trading signals. The "PeriodValue" parameter in the TRXProScalper indicator is responsible for this. Also remember to change the RSI basement oscillator calculation period if you decide to use our trade filtering tip.
This chart shows that decreasing the "PeriodValue" parameter from 13 to 5 caused a shift in signals in time and the addition of new transactions.
Pros of the TRX Pro Scalper strategy
This strategy stands out for its versatility. Various operating modes allow you to customize its signals to suit any trading style: from short-term scalping with closing a deal after one candle to swing trading with holding positions for several hours. An additional advantage is the presence of an alert system and ease of use.
Disadvantages of the TRX Pro Scalper strategy
The system is overloaded with unnecessary information indicators that do not affect the quality of the signals. Essentially, it all comes down to one element – the TRXProScalper signal indicator. The remaining tools are added only to enhance the impression of the system in the eyes of the user. Instead of TRXDash and Average Daily Range, it would be much more useful to see the statistics of the signals of this strategy over a certain period.
Conclusion
The TRX Pro Scalper binary options strategy offers an interesting approach to trading due to its versatility, which allows you to customize signals to suit different trading styles. The presence of an alert system and relative ease of use make it attractive to many traders.
However, it is worth noting that this binary options strategy does not justify its $25 price tag. Before deciding to trade on a real account, we recommend that you carefully check the system settings and signals on a demo account with a reliable broker . This will help you avoid potential financial losses and approach the use of this strategy more consciously. We wish everyone successful trading!
Download TRX Pro Scalper
See also:
Psychology in trading - what does a beginner need to know?
How to make money on binary options
How to make a profit by trading on clean charts
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