The Project Syndicate Scanner is a fully automated trading system that provides traders with buy and sell signals, along with corresponding take profit and stop loss values, for all pairs being scanned. This trading tool utilizes proprietary algorithms and a set of standalone indicators to generate trade setups, without relying on traditional technical indicators like MACD, RSI, MA, Fibonacci, or TTM. In this article, we will explore the features, pros and cons of the Project Syndicate Scanner to help traders decide if this tool is suitable for their trading needs.
What is the Project Syndicate Scanner?
The Project Syndicate Scanner is an advanced fully automated scanning tool designed for the Forex, Crypto, and US Stock markets. It allows traders to scan up to 500 currency pairs simultaneously and generates trade setups with SL/TP values. The system includes a template with standalone indicators that enhance the odds of profitable trades by confirming all signals from the scanner. The scanner is based on five separate standalone prop algos that generate trade setups with tight stop loss values for efficient risk management.
The trade setups are ranked by probability from 1-10 to assist traders in identifying the most probable trades. Traders can analyze any market quickly, and scan various financial instruments such as crypto, metals, oil, futures, indices, and over 3,000 stocks, with one scanner. The Project Syndicate Scanner does not rely on traditional technical indicators such as MACD, RSI, MA, Fibonacci, or TTM, making it unique in its approach to trading. The scanner can scan any time frame from M15 to MNT and use a sophisticated probability ranking system to help traders make informed trading decisions.
Project Syndicate Scanner Strategy
The Project Syndicate Scanner offers a strategy for traders looking to automate their trading in the forex and cryptocurrency markets. To get started, traders should begin by setting up their preferred time frame and market and implementing appropriate risk management measures. Once the scanner is running, it will automatically generate trade setups using five standalone prop algos, ranking each setup based on its probability of success. Traders can wait for the system to generate a green “BUY” bullish or red “SELL” bearish signal with a probability ADR ranking of 8/10-10/10 before opening a long or short position and setting a stop loss. The scanner also provides take profit values for each setup, allowing traders to exit their positions and take profits based on the values set by the indicator.
Buy Signal
- Wait for the scanner to generate a green “BUY” signal with a probability ranking from 8-10.
- Enter a long position at the current market price.
- Set a stop loss a few pips below the entry candle or according to your money management strategy.
- Take profit when the scanner indicates a corresponding value based on the trade setup.
Sell Signal
- Wait for the scanner to generate a red “SELL” signal with a probability ranking from 8-10.
- Enter a short position at the current market price.
- Set a stop loss a few pips above the entry candle or according to your money management strategy.
- Take profit when the scanner indicates a corresponding value based on the trade setup.
Project Syndicate Scanner Pros & Cons
Pros
- The Project Syndicate Scanner is a fully automated scanner that scans up to 500 pairs simultaneously, which can save traders time and effort in analyzing the markets.
- The scanner generates trade setups based on proprietary algorithms and probability ranking, which can provide traders with a higher chance of profitable trades.
- The scanner covers various markets, including forex, crypto, metals, oil, futures, indices, and over 3,000 stocks, which can provide traders with a diverse range of trading opportunities.
Cons
- The scanner relies solely on proprietary algorithms, and traders cannot incorporate their own technical analysis or fundamental analysis into the system.
- The scanner is a paid service, which may not be suitable for traders with limited financial resources.
- The scanner may generate false signals or incorrect probabilities, which can lead to potential losses if not used correctly.
- The scanner’s performance may be affected by external factors, such as market volatility or news events, which may result in inaccurate signals or unexpected losses.
Conclusion
In conclusion, the Project Syndicate Scanner is a powerful tool for traders looking to automate their trading and generate high-probability trade setups. The system uses proprietary algorithms and does not rely on traditional technical indicators, which sets it apart from other scanning tools in the market.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
