Dashboard Babon Scalping System Review – A Powerful Scalping Tool
The Dashboard Babon Scalping System is a sophisticated trading tool available on the mql5.com marketplace that aims to help traders spot trading opportunities and make quick profits using scalping techniques. After carefully reviewing the system, here is an in-depth review outlining its key features, strengths and potential limitations.
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Overview of the Dashboard Babon Scalping System
The Dashboard Babon Scalping System utilizes custom indicators like the Babon Slope, Moving Average bands, Ichimoku cloud and others to analyze price action across multiple timeframes. It presents all the analyzed data in an easy-to-use dashboard interface allowing traders to quickly identify trading signals.
Key Features:
- Analyzes 28 currency pairs and provides trading signals based on predefined rules
- Custom indicators analyze price action on H1, H4 and M1 timeframes
- Intuitive dashboard interface for all 28 pairs
- Includes trade management features like automatic order placement and monitoring
- Highly customizable settings for indicators and trading rules
Suitable For:
- Scalpers and short-term traders aiming for quick profits
- Traders who prefer visual interfaces to analyze multiple assets
- Beginner to advanced traders looking for an all-in-one analysis and trade tool
Detailed Review of Features and Performance
Comprehensive Dashboard Interface
The core feature of the system is the dashboard interface that allows traders to analyze 28 currency pairs simultaneously. This saves significant time as traders do not need to check each chart separately.
The dashboard uses a color-coding scheme to identify trading opportunities. Green signals indicate a buy trade while red signals indicate a sell trade based on the rules of the Babon scalping strategy coded into the system.
Dashboard Interface
Dashboard interface showing signals for 28 currency pairs
Traders can also customize the dashboard by applying template colors and arranging panels as needed for their workflow. This allows creating a neat workspace to improve focus.
Overall, the dashboard delivers an impressive visual interface for traders to implement the Babon scalping strategy for MT4 across 28 pairs quickly.
Automatic Trade Management
The Dashboard Babon System includes useful trade management features that automate routine tasks. This includes:
- Auto-trading – Trades can be automated based on indicator signals
- Alerts & Notifications – Get notified when trading opportunities arise
- Risk Management – Define stop loss and take profit levels for each trade
- Position Monitoring – Easily track all open trades in the dashboard
These features allow hands-free implementation of the trading strategy. Traders can go about their day while the system identifies trades and manages risk automatically.
The risk management inputs also allow customizing trade parameters like stop loss and take profit for individual pairs based on volatility and preferences. This makes the system flexible for various market conditions and trader requirements.
Custom Indicators for Robust Signals
The Babon scalping strategy uses a combination of custom indicators across multiple timeframes to identify high-probability trades.
These include:
Higher Timeframe
- Trend Direction Index (TDI)
- Heiken Ashi
- Price Trend
- Triangular Moving Average bands
Lower Timeframe
- Babon Slope
- Moving Average
- Ichimoku Cloud
The higher timeframe indicators analyze the overall trend and momentum. The lower timeframe indicators then identify specific entry and exit points aligned with the trend.
The confluence of various indicators across timeframes gives robust trading signals as multiple factors validate a trade decision. This likely improves the risk-reward ratio.
Dashboard Babon Scalping System Logic for Scalping
As the name suggests, the Babon System aims to capitalize on short-term mispricing in the market.
The entry logic combines indicators on two timeframes – higher timeframe for trend and lower timeframe for entries.
Buy Signal Logic
- Higher TF: TDI, Heiken Ashi and Price Trend indicate uptrend
- Lower TF: Babon Slope uptrend, price crosses above MA bands
- Other filters like Ichimoku cloud add confluence
Sell Signal Logic
- Higher TF: TDI, Heiken Ashi and Price Trend indicate downtrend
- Lower TF: Babon Slope downtrend, price crosses below MA bands
- Other filters like Ichimoku cloud add confluence
This multi-timeframe approach ensures trades taken align with the overall trend. The lower timeframe then provides precise entry and exit timing.
Such a structured trading strategy backed by custom indicators gives an edge to scalpers who aim to profit from market volatility and indecision.
Strengths of the Dashboard Babon System
Analyzing the various features in detail, here are some of the key strengths of this scalping system:
All-in-One Tool – Get everything from market analysis to trade automation in one dashboard
Robust Signals – Combination of custom indicators provides high-probability signals
Multi-Asset – Get insight across 28 forex pairs from one interface
Customizable – Flexible settings for indicators, risk management and workspace
Scalper-Friendly – Strategy and features designed for short-term traders
Beginner Friendly – Visual interface and alerts simplify usage
Potential Limitations to Keep in Mind
While the Dashboard Babon System has several notable strengths, traders should be aware of certain limitations too, including:
Over-optimization – Too many indicators may cause overfit system
False Signals – Various filters improve accuracy but some whipsaws likely
Needs Monitoring – Like any EA, periodic supervision is still required
Cost – $200 price tag is steep for an unproven system
Curve Fitting – Parameters likely optimized to historical data
No Trial – Lack of free trial prevents live testing before purchase
Verdict – A Promising But Pricey Scalping Tool
The Dashboard Babon Scalping System delivers an impressive interface for scalpers to analyze multiple currency pairs and identify trading opportunities quickly.
The combination of custom indicators, automatic trade management and customizable workspace offers many practical features. This suggests solid effort by the developer to create an all-in-one scalping solution.
However, the limitations highlight the risks involved too. There is no foolproof method and traders need to apply prudent risk and money management no matter what system they use.
Overall, the Dashboard Babon System shows promise but has scope for improvement as well. The $200 price tag is quite steep given unproven long term profitability. Traders are advised to use the free demo exhaustively before considering paying for the software.