The indicator for binary options Binary Options Fire is designed for active trading and scalping . It actively generates entry points that will certainly be appreciated not only by fans of turbo options, but also by Forex market scalpers.
Its work is based on an attempt to capture short price impulses. Using this Forex tool, trades must be opened at the moment the trend direction changes, in order to take a short profit (pips). Binary options traders will be able to use this indicator in their short-term strategies, or as an independent decision-making tool.
The developer sells this indicator for $12.99, but you can download it absolutely free from our website for review.
Content:
- Characteristics
- Installation
- Overview and Settings
- Trading rules for Binary Options Fire
- Opening a Call Option
- Opening a Put option
- Conclusion
- Download Binary Options Fire
Characteristics of the indicator for binary options Binary Options Fire
- Terminal: MetaTrader 4 ;
- Timeframe: M1;
- Expiration: 3 candles or more depending on the instrument;
- Option types: Call/Put;
- Indicators: Binary Options Fire.ex4;
- Trading instruments: currency pairs , commodities, cryptocurrencies , stocks;
- Trading time: 8:00-20:00 Moscow time;
- Recommended brokers: Quotex , Pocket Option , Deriv , Binarium .
Installing the indicator for binary options Binary Options Fire
The Binary Options Fire indicator is installed as standard in the MetaTrader 4 terminal. To do this, you need to add it to the root folder of the terminal by selecting “File” in MT4 and then “Open data directory”. In the directory that opens, you need to go to the “MQL4” folder and then to “Indicators”, and then drag the indicator file there. Templates are installed in exactly the same way, but are placed in the “templates” folder. For more detailed instructions on installing indicators, see our video:
Review and settings of the indicator for binary options Binary Options Fire
The developer of the indicator for binary options Binary Options Fire has closed the settings parameters of his brainchild, leaving users the ability to change the color of the crosses and set the lines.
Judging by the curve of the signal elements located below the chart, they are clearly based on the Stochastic calculation. We conducted an experiment and added a Stochastic Oscillator to the “basement”. As you can see, the readings of this world-famous oscillator quite accurately repeat the bends of Binary Options Fire, leaving no doubt about the involvement in the calculations of this “oracle”.
The signal to open trades using the Binary Options Fire indicator is a change in the color of the crosses, which indicates a change in the direction of the price impulse. As long as the direction of the trend does not change, the color of the crosses also remains unchanged.
To make money from rising quotes of a financial instrument, a trader should wait until the color changes from red to green. Then, at the opening of the next candle, you need to buy a Call binary option.
In the opposite situation, when the trend changes its direction from upward to downward, the color of the crosses of the basement indicator changes from green to red. After that, at the opening of the next candle, we buy a Put option.
Trading rules using the indicator for binary options Binary Options Fire
The Binary Options Fire indicator gives quite a lot of accurate signals in conditions of unidirectional price movement of the traded instrument. But in a flat, this oscillator can give false signals due to the fact that changes in the vector of development of the price trend that it records do not lead to continued movement in a certain direction.
This is a classic problem with most trend trading systems and indicators. In order to understand how to deal with it and include Binary Options Fire in your trading strategy in order to accelerate your deposit , we recommend that you familiarize yourself with the list of the best trend indicators .
To increase the reliability of trading, we recommend using additional filters in conjunction with this indicator. For example, to filter signals, you can use the standard indicator for assessing the current volatility level from the MetaTrader4 platform - StdDev with a period of 5. Based on the values of the StdDev oscillator, we will construct a simple moving average with a period of 9 (SMA9).
We will take signals from Options Fire only when the values of the volatility oscillator StdDev (5) are higher than the nine-period moving average SMA (9), built based on its values. In other words, we will trade only in conditions of increasing volatility (changeability) of the market.
As you can see in the chart, this rule perfectly filters weak signals and helps to significantly reduce the number of losing trades. In fact, we ignore flat areas and enter into transactions only when the market has decided on the direction.
You can apply other filtering methods using various technical analysis methods and pattern indicators .
Opening a Call Option
On the previous candle, the color of the Binary Options Fire basement indicator changed from red to green. At the same time, StdDev (5) is higher than SMA (9), built according to its values. At the opening of a new time interval, we buy a Call option.
Opening a Put option
On the previous candle, the color of the Binary Options Fire basement indicator changed from green to red. At the same time, StdDev (5) is higher than SMA (9), built according to its values. At the opening of a new time interval, we buy a Put option.
Conclusion
The Binary Options Fire indicator can be actively used in binary options scalping . Fans of turbo options and quick trades will appreciate it. In general, it gives quite a lot of accurate signals, but requires filtering them using different methods. When trading, try to avoid consolidations and flat areas of the market. Open trades at moments of impulse movements.
Please note that this indicator largely copies the behavior of the Stochastic oscillator and is clearly not worth the money that the developers are asking for it. It is not recommended to use its signals without filtering.
Before you start using it in practice, be sure to test its operation on history. Only after making sure that the signals and a well-chosen filter are effective can you try to use them in practice. The best approach is to start with a demo account with a proven broker , applying all the rules of risk management and money management .
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