Deep Profit Lab is an indicator system that gives easy-to-use buy/sell signals. It usually being sold for 99$ a month. Deep Profit Labs Trading System has been developed aiming trend following intraday forex traders. It doesn’t matter how volatile the market is, this system always plots a dynamic channel so that you know when to wait and when to pull the trigger according to the trend direction. So far, it has been observed that this strategy is quite profitable, steady and more importantly “safe” if you really know how to use it.
As an intraday strategy, The Deep Profit Labs Trading System best fits with M15 to D1 timeframe charts. Therefore, its user has an option to check the trade setup in multiple timeframes before taking the trade decisions. Furthermore, you’ll be able to apply it to trade any forex currency pairs in the forex market.
Deep Profit Lab system can give you trading signals you can take as they are or add your additional chart analysis to filter the signals further, which is recommended. While traders of all experience levels can use this system, it can be beneficial to practice trading on an MT4 demo account until you become consistent and confident enough to go live.
M15 TMA Bands: The most important part of the system. It plots both upper and lower channels at the main chart window. Price hits the upper channel means the market is entering the overbought condition. On the other hand, the price at the lower band indicates the oversold condition of the market.
Arrow Bands: It signals the possible swing areas of the market. The arrows point to the next possible momentum direction. For trade entries, you’ll need to find upward arrows at the lower band to buy and downward arrows at the upper band to go short.
Candle Shadow: It is a momentum-based indicator. It turns white means the momentum is bullish and turns black to signal the bearish momentum as well. Mostly it works like the “Heiken Ashi”
Super Trend & Bar bands: Both of these indicators work in the same manner to detect the current market momentum. Their value should be under 0.15 (oversold area) and their histogram bars should be turned white to confirm the long entry. Conversely, for a short entry, their value must be above the 0.85 level (oversold area) with their histogram bars turned as red.
How to Use
Deep Profit Labs Trading System BUY Parameters
- Price holds its position right above the lower M15 TMA Bands
- An upward arrow is plotted by the Arrow bands right below the price bar
- Candle Shadow turns white
- Both Super Trend & Bar Bands are under 0.15 and turn white
- Buy triggers after all the above conditions are met
- Stop loss limit right below the lower M15 TMA bands
- Exit long/take profit whenever the Candle Shadow turns black
Deep Profit Labs Trading System SELL Parameter
- Price holds its position right below the upper M15 TMA Bands
- A downward arrow is plotted by the Arrow bands right above the price bar
- Candle Shadow turns black
- Both Super Trend & Bar Bands are above 0.85 and turn red
- Sell triggers after all the above conditions are met
- Stop loss limit right above the lower M15 TMA bands
- Exit short/take profit whenever the Candle Shadow turns white