The indicator for binary options De Forex Mr Y represents local support and resistance levels, which are divided into main and intermediate. Also, the author of the De Forex Mr Y indicator uses Moving Averages , so they were left as they help complement the analysis.
It is worth noting that this indicator is similar in its execution to the indicator for binary options Crystal , although in this case there are much fewer levels.
And it is also important to know that the De Forex Mr Y indicator is paid and its original price is $347, which is quite expensive, but you can download it absolutely free from our website for review.
Characteristics of the De Forex Mr Y indicator
- Terminal: MetaTrader 4 .
- Time frame: M1-H4.
- Expiration: 3 candles.
- Types of options: Call/Put.
- Indicators: de forex mr y, ain-dicad-ormry1/2/3, t-to.
- Trading instruments: any.
- Trading hours: 8:00-18:00.
- Recommended brokers: Quotex , PocketOption , Binarium .
Installing the De Forex Mr Y indicator in MT4
The indicator is installed as standard in the MetaTrader 4 terminal.
MetaTrader 4 instructions for installing indicators:
In fact, levels are added using two indicators, and their settings can be changed to change the levels themselves. In the ain-dicad-ormry1/2 indicator, you can change the parameters and also disable alerts, but it is better to leave everything as default:
The t-to indicator is also responsible for intermediate levels, and in its settings you can change both the visual component and the level parameters themselves:
As mentioned above, the levels indicator has alerts that will help you understand when to buy options:
Trading rules and description of the De Forex Mr Y indicator
Since the author himself trades with three “moving averages,” we can say with confidence that the trend is important in trading using the De Forex Mr Y indicator. Therefore, it makes sense to study the material about what a trend is and how to determine it . and also in addition to the trend, it is worth understanding what a flat is and how to determine it .
The description of the levels themselves should begin with their types, and as mentioned earlier, in this indicator for binary options they are both basic and intermediate. The main ones are the white and red levels, consisting of “dots”, and the intermediate levels of support and resistance include the usual linear levels:
One of the main advantages of this indicator is that it does not redraw levels after the candle on which they appear is closed. Therefore, trading on them can be carried out almost immediately after their appearance.
Trading by levels itself is very simple and does not require any knowledge, but there are three types of methods of trading by levels of the De Forex Mr Y indicator:
- At the moment of appearance of the main or intermediate level.
- When approaching existing levels.
- After confirmation of the direction by Moving Averages.
When the main level appears, you can immediately buy a Call or Put option, depending on what level it is:
And this applies not only to the red levels, but also to the white ones. Expiration in this case should be used in 3 candles.
Trading can also be carried out when the price approaches existing levels, and in the same image, after the situation has developed, you can see an example of such trading when the price “pushed off” from the previous support, regardless of the appearance of a new level:
And the appearance of a new red level could be considered additional confirmation for executing a transaction. Expiration should also be used in three candles.
For traders who like to make a lot of trades, using only levels in the form of white dots is suitable. To do this, it is necessary that the level appears on the Moving Average (of any color):
For traders who like the most conservative transactions along the trend (low-risk and with a high probability of profit), you can use Moving Averages in trading by levels:
But it is worth noting that such trading is not suitable for beginners, since expiration in this case should use about 5 candles, and it is also worth understanding the work of the “moving averages” themselves, which do not intersect at the same time and can give false signals.
If we talk about intermediate levels, then they should be used only as confirmation of the main levels, but as practice shows, when trading using the De Forex Mr Y indicator, you can do without them.
Examples of trading using the De Forex Mr Y indicator
To reinforce the understanding of how the indicator works, let’s look at examples for Call and Put.
Opening a Call and Put option
In the image below you can see that the Call option was bought from the white level at the moment it appeared, and in confirmation of this the direction of the trend could be used, and when the price rose quite strongly and began to decline, the trend had not yet changed, but a strong level appeared, consisting from the red and white levels, and after closing the desired candle, you could buy a Put option:
Conclusion
The De Forex Mr Y indicator, as you can see, allows you to trade binary options in three different ways, and therefore it is suitable for all types of traders. Also, the levels themselves can be considered a universal tool, since they are ways to both generate their own signals and act as a filter for any other trading strategy for binary options .
But successful trading depends not only on indicators or strategies, and experienced traders always use the rules of money management and risk management , as this allows them to protect their trading account from losses.
Also, do not forget about brokers, as they are no less important in profitable trading. You can always find a broker in our rating of binary options brokers .
Download the De Forex Mr Y indicator for free
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