Arrow indicators for binary options

Of all the tools that traders use in binary options trading, arrow indicators are especially popular. They provide signals for binary options with high accuracy, informing about the time of entering a trade. As a result, traders do not need to waste time on additional market analysis.

Instructions for installing indicators in MetaTrader 4 :

It is important to understand that arrow indicators for binary options do not always show the correct signals. The final decision and risk must be taken by the trader.

Such indicators are presented on the chart in the form of arrows:

1. Red arrows pointing downwards signal the possibility of opening a transaction to buy a Put option.

2. Green or blue arrows pointing up indicate the possibility of opening a deal to buy a Call option.

It is worth noting that some trading systems use circles instead of arrows. But in this case, red and green colors indicate the purchase of Put and Call, respectively.

It is recommended to enter a trade at the moment when the candle within which this signal arose closes. Regardless of the type of indicator and trading system, the information provided by this tool is interpreted in the same way.

Today, traders can take advantage of many options for arrow indicators. Some tools are free, while others require a fee. Below we will discuss several of the most accurate dial indicators that you can download for free.

BrainTrend2Sig indicator

BrainTrend2Sig incorporates the capabilities that Stochastic and ATR have. These indicators are not displayed on the chart. Trading systems only display the results of both instruments in the form of red and blue dots. BrainTrend2Sig can be used in various software products.

This arrow indicator, unlike other similar tools, gives accurate forecasts over both short and long time periods. Experts suggest that such performance of BrainTrend2Sig is explained by one of its features: the indicator signals the need to open a trade at the moment of a trend reversal. The data from the trading system is interpreted according to the standard scheme: the red circle indicates that you need to buy a Putt option, the blue circle indicates that you need to buy a Call option.

Download the BrainTrend2Sig indicator

KillBinarySignals-2 indicator

KillBinarySignals-2 is considered a very effective arrow indicator. The tool demonstrates good results when trading with various financial assets on both short and long time frames. Initially, the algorithm on which the indicator operates was created for MT4. Compared to the classic version of this tool, KillBinarySignals-2 takes into account a larger number of parameters when generating signals. For example, this indicator allows you to display support and resistance levels on the chart without the effect of redrawing.

It is recommended to work with KillBinarySignals-2 according to the following scheme:

1. If a blue arrow appears under the price chart, you should open a deal to buy a Call.

2. If a red arrow appears above the price chart, you need to open a Put purchase position.

During the period when the price chart enters a corridor and the value of assets remains virtually unchanged for some time, KillBinarySignals-2 gives a lot of false signals. Therefore, in such conditions, it is recommended to check the direction of the trend using trend indicators.

Download the KillBinarySignals-2 indicator

QQE arrows MTF indicator

Working with QQE arrows MTF is most attractive when the tool is used in conjunction with Renko charts. However, this indicator remains effective in other conditions. QQE arrows MTF is based on ATR and RSI . The indicator displays messages on the chart in the form of traditional red and blue arrows. Simultaneously with the appearance of the icons, the system beeps.

The interpretation of QQE arrows MTF signals is carried out according to a similar scheme as in the case of other arrow indicators. This tool is most effective when working with currency pairs. It can be used on any time frame, including the minute timeframe.

Download QQE arrows MTF indicator

SixtySecondTrends indicator

SixtySecondTrends was created specifically for trumpet options trading. Moreover, this indicator is considered the most optimal tool for working with the EUR/USD currency pair. However, it also shows good results when trading with other assets. The indicator is based on MA and ADX . A signal to open a trade occurs when the probability of a change in trend direction exceeds 60%.

The trading system displays SixtySecondTrends messages in the form of green and red circles, which indicate the need to purchase Call and Put options, respectively. It can be included as part of a specific strategy or used as an independent tool. At the same time, if the first trading option is used, it is recommended to use SixtySecondTrends signals, provided that other indicators give similar messages.

Download the SixtySecondTrends indicator

Despite the high efficiency and versatility characteristic of dial indicators, this tool is not without drawbacks.

First of all, they demonstrate relatively low performance. Each dial indicator works according to its own algorithm, and therefore they operate with different efficiency. In addition, paid tools do not always provide accurate signals. Thus, some developers claim that their dial indicators are effective in 90% of cases. However, in reality, the accuracy of the indicators demonstrated by these tools does not exceed 60-70%. Therefore, it is recommended to check signals from dial indicators using other programs or additional indicators.

In addition to the above, such tools are not without the effect of redrawing. This phenomenon is characterized by the disappearance of the arrow from the graph or a change in its direction. Moreover, this problem affects not only the last signal, but also all previous ones. Redrawing makes it more difficult for traders to work with charts. And, as a result, trading performance decreases.

The above disadvantages are typical for most instruments that traders use. This circumstance must always be taken into account. To increase trading efficiency, you should choose arrow indicators without redrawing and integrate them into various strategies. However, you should not expect that the chosen approach will constantly bring profit. It is important to constantly analyze the market and make decisions that correspond to current realities, and not blindly follow indicator signals.

One of the advantages of these tools is that you can work with them without even knowing the basics of trading on the stock exchange. Arrow indicators are equally effective on any time frame. The exception to this rule are instruments designed specifically for options trading within 60 seconds.

Good arrow indicators can be used when working with any asset. This tool remains effective when combined with most technical analysis tools.

Bottom line

Dial indicators show accurate results if:

• do not allow redrawing;
• do not depend on a trading account or broker;
• provide the opportunity to make changes to parameters in accordance with the current market situation;
• provide signals in a timely manner in the required quantity and with a low percentage of defects.

Before you start trading with a specific arrow indicator, it is recommended to test it on different time frames. It should also be remembered that the accuracy of the results decreases during the period when the value of the asset remains virtually unchanged, the release of economic news and the appearance of information about disasters or other force majeure situations.

Can't figure out how this strategy or indicator works? Write about it in the comments to this article, and also subscribe to our YouTube channel WinOptionSignals , where we will definitely answer all your questions in the video.