Exploring new strategies is always an exciting process. The Sonic Wave Pro binary options strategy is a unique combination of indicators that provides flexibility and efficiency in trading. This system adapts to your preferences, regardless of your style - be it scalping or day trading. Wondering how you can use the MACD indicator to determine entry points for trades without displaying the oscillator itself on the chart? This is just one of the many questions we will answer in this review. Here, we will find out if this system is worth $25 and tell you about its potential without unnecessary advertising.
Content:
- Characteristics;
- Installation;
- Overview and Settings;
- Trading Rules for Sonic Wave Pro;
- Specifics of Application;
- Conclusion;
- Download Sonic Wave Pro.
Characteristics of the Sonic Wave Pro Binary Options Strategy
- Terminal: MetaTrader 4
- Timeframe: M15
- Expiration: 5 candles
- Option Types: Call/Put
- Indicators: Brilliant Range Flow.ex4, MACD_Overlay&alert&mtf.ex4, SonicE1.ex4, SonicE2.ex4
- Trading instruments: currency pairs, commodities, cryptocurrencies, stocks
- Trading hours: 8:00 - 21:00 Moscow time
- Recommended brokers: Quotex, Pocket Option, Alpari, Binarium
Setting Up a Strategy for Binary Options Sonic Wave Pro
The Sonic Wave Pro strategy indicators 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 opened directory, you need to go to the “MQL4” folder and then to “Indicators”, then move all the files there. Templates are installed in the same way, but are placed in the “templates” folder. You can read the installation instructions in more detail in our video:
Review and Settings of the Strategy for Binary Options Sonic Wave Pro
Please note! In the “Daytrading” template, the color of the candles will depend on the MACD strategy and its operating mode.
The Sonic Wave Pro strategy combines several indicators into a single trading system. It is great for a variety of styles, including scalping and day trading. The system comes with two templates, each pre-configured for a specific trading style.
The image above shows Sonic Wave Pro being used in scalping on the left and day trading on the right. You can see that the color marking of the bars changes in some strange way when using the "Daytrading" template. Read more about this below.
Scalping
As you know, scalping is one of the trading styles, in which a large number of transactions are concluded in order to make a profit from a small price fluctuation. This is the operating mode that the Sonic Wave Pro binary options strategy template of the same name offers. Given the features of this approach, we recommend using it on M1 or M5 charts. Other timeframes are suitable for less aggressive trading.
Red arrows indicate buy signals for Put options, and green ones for Call options. This mode is based on two strategies: Brilliant Range Flow and SonicE1. Now let's look at their settings.
Brilliant Range Flow has few of them, and all the user can do is change the position of this information panel on the chart. Range Flow itself is designed to assess the market trend based on the analysis of candles of different timeframes. This information is advisory in nature, does not participate in the signal logic of the main strategy and can be used as an additional filter at the discretion of the trader.
Another indicator included in the scalping template is SonicE1. According to the signals of this tool, you have to open Put positions when red arrows appear, and open Call positions when green arrows appear.
Forex traders will be interested in the visualization block of take profit and stop loss levels. It is important to note that it is in this tool that you can adjust trading notifications and select sound alerts. In addition, you can set up different sound signals for buying Call and Put options.
Day Trading
Note: Before selecting the MACD operating mode, do not forget to specify its parameters according to your preferences.
This style involves less aggressive binary options trading, so it is recommended to select the M15 timeframe for it. Then we will apply the “SonicWavePro-Daytrading” template. As a result, we will get an unusual chart.
Depending on the chosen method of operation for the MACD strategy, the principle of coloring the bars changes. There are three modes available: MACD_Signal, MACD_Zero_Line and MACD_Compare.
Signal Mode
In this mode, the chart will look unusual: the candles will be colored green or pale purple depending on the position of the MACD strategy (3,9,5) relative to the signal line. If the MACD value is greater than the signal line, the bars will be green, if less - pale purple. This mode will be useful for active traders, as it helps to highlight small areas of unidirectional price growth or decline in the general trend.
Zero Line Mode
With these settings, the color of the bars changes when the MACD crosses the zero mark. If the histogram is above zero, the bars turn green, and if below, they turn pale purple.
This mode will help to visually highlight flat and correction zones within the framework of one trend.
Compare Mode
If you select "MACD_Compare" from the list of methods, the color of the bars on the chart will reflect the dynamics of the MACD histogram. If the histogram is growing, the bars will be green, if it is decreasing, they will be pale purple.
Trading Rules for Sonic Wave Pro
This strategy offers traders several modes of operation, so that everyone can choose the one that suits their preferences. The rules for opening options will largely depend on your trading style. If you make many transactions in a short period of time, the "Scalping" mode will suit you. For this, we recommend using the appropriate template. In addition, our website has a selection of articles on this topic. They will help you get acquainted with strategies specifically developed for scalping, learn about the nuances of this style of trading on binary options and much more:
- Indicators for Scalping
- Scalping on Binary Options
- Successful Overnight Scalping Strategies
- Strategy for Pocket Option "Scalping"
We prefer a more conservative approach and trend trading on the M15 timeframe. Therefore, we will select the "SonicWavePro-Daytrading" template with the "MACD_Zero_line" mode. The position of the MACD histogram (3,9,5) relative to the zero mark will be used as a trend filter. As mentioned earlier, if the histogram is above zero, the price bars will be green, and if below, they will be pale purple. Knowing this, we will not need to display the MACD oscillator itself on the chart; we will be able to determine the position of the histogram by the color of the bars.
Opening a Call Option
- A green arrow appeared
- Green candle
- At the opening of the next candle we buy Call
Opening a Put Option
- A red arrow appeared
- Pale purple candle
- At the opening of the next candle we buy Put
It is recommended to select the expiration time of 5 candles. Select the holding period of positions depending on the financial instrument and the results of testing on historical data.
Specifics of Using the Strategy for Binary Options Sonic Wave Pro
Based on the results of testing signals on historical data using the "Daytrading" template, it turned out that the best results are achieved when holding positions (expiration time) for at least 5 candles. Consider this when planning your own trading using this strategy. Also pay attention to the time of making deals. We recommend trading during the most active market hours and, if possible, avoiding flat.
For scalping (trading on timeframes below M15), we recommend using the additional Range Flow filter to improve the quality of signals. In this case, a good strategy would be to make sure that the dashboard is dominated by a green signal for buying Call or a red one for Put.
Pros of the Sonic Wave Pro Strategy
This system has several advantages, including the ability to switch trading modes, which can be further customized using the MACD_Overlay strategy. This makes the Sonic Wave Pro strategy a universal tool. Thanks to the unique method of displaying MACD signals, the trader can clearly see them without having to display the oscillator itself on the chart. At the same time, the Brilliant Range Flow indicator will help to clearly evaluate the combination of candles of different timeframes, which will allow you to estimate the probability of price movement in one direction or another.
Cons of Sonic Wave Pro Strategy
The quality of the system is largely determined by the accuracy of its signals, which can change, especially with a constantly changing market and the publication of unexpected news and macroeconomic data. Sometimes the signals of this strategy may not be accurate enough, which will require its user to apply additional filters.
Conclusion
The Sonic Wave Pro binary options strategy is a comprehensive approach to trading, combining several indicators and modes of operation. With the ability to generate trading signals for different trading styles and individual settings for the MACD_Overlay strategy, this system becomes a universal tool in the hands of traders. However, in our opinion, this strategy is not worth its $25 and, like any other trading system, requires careful testing on a demo account before using real money.
It is also important to remember that the accuracy of its signals may vary depending on specific market conditions, so it is recommended to use additional filters and capital management methods to improve trading efficiency. Overall, success with this binary options strategy depends on the professionalism and systematic approach of each trader. We wish everyone successful trading!
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