Rekon Xs and Market Scanner for Spot and Binary Options

More overbought signals where ATR is low, we will try for a counter, lets see.

Strength is normalizing, price dropped to pivot and will go with the trend.

We able to act correctly and closing the day as winner

To the Market Scanner Users,

What we are doing here is totally unique and there is no other thread available in this forum where you can see this. My believe is so far if you able to understand the whole concept I have tried describing in the entire thread then you really do not need to do anything else, all the missing Xs are covered here and with fine tuning them on daily basis we will be in the long term profitable league!

So lets summarize,

30 Mins Binary

A. Low ATR, less than 3 Overbought signals = with trend entry around pivot / support level for BUY / CALL
B. Low ATR, more than 3 Overbought signals = Counter entry around R2-R3 level for Sell / PUT

Won 3, Loss 0

Hi Renkon, Before i was using your indicator Renkon X on build 509 and evey thing look okie, but now i use your indicator on build 604. and it did not show anything like before. Is there any problem with it

the trial is expired just send me ur email I will resend the files

except i'm misunderstaning you. you said three overbought/oversold conditions is good for with trend entry. above three could be treated as a counter trade

I will give u a detailed explanation later. I am on mobile so can not type much now. 3 exhausion signal is a definite sign of price weakness but we need to check where is the price presently. By reading the fib levels we can find that and decide whether we go for counter or with trend entry.Your trading decission is a dependent variable it is always how you read the market not others

Price Analysis

A. Instrument is trending.
B. A trending price can retrace at price exhaustion / less interest.
C. A trending price can attract interest ~ will add with direction volume = Adding speed to trending direction.

"WH" questions to the above Analysis.

1. How to detect it is trending or range bound ~ my binary will fail if I misread the market.
2. Where is my entry point for this instrument? ~ my binary will fail if I chose random entry points
3. How do I know how much the price is exhausted? Is there any indicator to show me the price exhaustion in a consolidated manner of taking different popular studies?
4. Price is rejecting / getting a sharp 180 degree turn or it is able to create higher highs or lower lows? Can I understand this. ~ my binary will fail if I do not understand this.

Hi Rekon,

Is your MarketScanner app based from Investing.com data feed?

My concern is Data from Investing.com are delayed some, esp for Aussie and Indian stock and some euro stocks.

eg Aussie Stock, Anz Bank

Acit - your observation is correct. About your concern of data feed delay is true but lets consider how you trade?

Fib levels for h1 are not going to effect you for 30 mins binary or quick scalping in spot.

What we are following is the recommended study of indicators and you are getting an easy interpretation of technical analysis.

I do agree on your concern about data feed but I have not faced any trouble with that. In case you find other relaiable data source let us know.

Also take trades and post here for further discussion.

Hi renkon, I just PM you, can you send me the indicator please. Thank you

Alright, seems I have some time now, so will scan the market and see if there is any trade for me.

Loading up Stocks.

Scanned 40 stocks. It is high performing market.

Next, I selected only the 16 stocks which are highlighted from the 40, and rescanned for hourly strength.

I am setting up instruments for trading.