The Entry Points binary options indicator is a top technical analysis signal tool, specially developed for the MetaTrader 4 platform. According to the developers, it provides accurate signals for opening and closing trades without redrawing, keeps statistics of its signals, and is also suitable for trading any financial instruments.
This advanced binary options indicator costs $125. But is it really that good? Let's find out in this review. There are some nuances that you should be aware of, so we recommend reading to the end.
Content:
- Characteristics;
- Installation;
- Overview and settings;
- Rules for trading on Entry Points;
- Specifics of application;
- Conclusion;
- Download Entry Points.
Characteristics of the indicator for binary options Entry Points
- Terminal: MetaTrader 4
- Timeframe: M30
- Expiration: 5 candles
- Option Types: Call/Put
- Indicators: EntryPoints.ex4
- Trading instruments: currency pairs, commodities, cryptocurrencies, stocks
- Trading hours: 8:00 - 21:00 Moscow time
- Recommended brokers: Quotex, Pocket Option, Deriv, Binarium
Installing the Entry Points Binary Options Indicator
The Entry Points indicator is installed in the MetaTgader 4 platform as standard. 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 opened directory, you need to go to the “MQL4” folder and then to “Indicators”, then move all the files there. Templates are installed in the same way, but are placed in the “templates” folder. You can read the installation instructions in more detail in our video:
Review and settings of the indicator for binary options Entry Points
The binary options signal indicator Entry Points displays the moment of opening positions on the chart of the selected instrument with arrows. The blue arrow indicates a buy signal, the red one - a sell signal. Cancelled transactions are indicated by gray arrows.
Next to the closing candle of the deal, the result of the operation in points is indicated. This information will certainly be of interest to Forex traders. At the same time, binary options traders will be more attracted by the summary statistics panel in the upper left corner of the screen.
It provides statistics on transactions for the specified period (30 days), which can be configured in the parameters. The total number of signals is indicated (88), the number of cancelled transactions is 28, the Win/Loss ratio is 49/11 and the most interesting indicator is the success rate (Success Rate/winrate-82%). The last line is the number of profit points earned according to the indicator signals, but you shouldn't really trust this data, because they are calculated somewhat strangely, and it is unlikely that you can close a transaction in the place where the marker is indicated on the chart. Due to the fact that this point is more relevant to Forex traders, we will not dwell on this in detail.
The Entry Points indicator has few parameters and they are all divided into 5 blocks:
- DEMA Filter – activation and calculation period of the exponential moving average (DEMA)
- Correction Level Filter – activation of the correction filter (signal on rollback)
- Working Hours Filter – working period
- Statistics Settings – Signal Statistics
- Alerts – Setting up messages
Note: The Double Exponential Moving Average (DEMA) was developed by Patrick Malloy to reduce latency and improve responsiveness to market changes.
Rules for trading using the Entry Points binary options indicator
The Entry Points binary options indicator is not just a "signaler", but a full-fledged trading system. It analyzes the price movement of a financial instrument and determines the moments of entering a transaction according to the built-in algorithm. At the same time, it not only indicates when it is necessary to open positions, but also determines the moment of profit fixation. With such an assistant, a trader can focus not on finding entry points, but on his trading discipline and capital management methods, which we discussed in detail in these articles:
- Capital management. Principles of money management.
- How to keep losses under control? Risk management.
- Psychology and trading discipline.
- Trader's diary as a tool for debugging trading strategies.
At the same time, we still advise beginners to focus on trading with the trend. And we will show that this approach will provide you with more profitable trades using a practical example. As an experiment, we will disable the DEMA filter in the indicator settings, which cuts off trades against the main trend, and compare the win rate obtained in this mode with the filter enabled.
As you can see in the picture above, the disabled trend filter (on the left) leads to a noticeable decrease in win rate (82% versus 91%). Therefore, for the USD/CHF pair on the M30 timeframe, it is preferable to open trades in the direction of the dominant trend. On lower time intervals and instruments that tend to trade in a flat, you can experiment with the DEMA calculation period, or try to disable it completely. However, we advise novice traders to adhere to the rule of trading along the trend and use the filter.
Buying a Call Option
- The candle closed above DEMA(500) – the trend is upward.
- A blue arrow appeared under the candle.
- At the opening of a new candle we buy Call
Buying a Put Option
- The candle closed below DEMA(500) – downward trend.
- A red arrow appeared above the candle.
- At the opening of a new candle we buy Put.
It is recommended to select the expiration time of 5 candles. Select the holding period of positions depending on the financial instrument and the results of testing on historical data.
Specifics of using the Entry Points indicator for binary options
To make the most of the Entry Points indicator, we recommend choosing a financial instrument and time frame with the highest win rate. To do this, study the success rate of signals for your broker's currency pairs on different time frames.
Once you have selected several currency pairs that interest you, you can proceed to more detailed signal settings. Try sequentially activating different Entry Points modes – with and without a filter. Also, do not forget to set up working hours in the "Working Hours Filter" section and try different periods for calculating the double moving average as a trend filter.
Pros of the Entry Points indicator
Provides reliable signals for opening trades without redrawing. Suitable for trading both on Forex and on the binary options market. Works on various financial instruments, including stocks and cryptocurrencies. Detailed statistics and analysis of historical data will help to determine the most promising instruments and time intervals for trading, which will have a positive effect on the trader's profit. The indicator is easy to use and suitable for beginners.
Disadvantages of the Entry Points indicator
Provides fairly accurate signals for opening a position, but closing may be approximate and not always optimal. Therefore, do not take the information about the "Minimum Profit" on the signal panel literally. It may be too high or too low depending on specific conditions, such as spread and slippage at your Forex broker.
Conclusion
The Entry Points binary options indicator is a modern technical analysis tool developed for the MetaTrader 4 platform. It provides accurate signals for opening and closing trades without redrawing, and also keeps statistics, which makes it a universal tool for trading various financial instruments. In fact, it is a full-fledged trading system capable of analyzing price movements and determining optimal moments for entering and exiting trades.
When using this indicator for binary options, especially if you follow the trend approach, you can expect an increase in the number of profitable transactions. Experimenting with different operating modes, filters and calculation periods, you can achieve even better results. It is important to remember - detailed statistics and analysis of historical data will help you choose the best tools and time interval for the chart, which will significantly increase the effectiveness of your trading.
The high accuracy of signals and the ability to choose optimal settings allow us to say that this tool is worth its money. You can download it for free for informational purposes using the link at the end of this review. To learn more about using Entry Points in practice, start with a demo account with a broker with a minimum deposit. Make deals, observing the rules of risk and capital management. Share your experience of using this signal indicator in the comments. We wish everyone successful trading!
Download Binary Options Indicator Entry Points
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