PO 7

The FX VOLCANO binary options indicator is based on the concept of momentum and strength/weakness of currency pairs, so it is best used on currencies. Initially, the indicator was intended for trading on the Forex market, but its signals can be used without problems for binary options.

It is also worth noting that the FX VOLCANO indicator is paid and is currently sold for $37 on the author’s official portal, but you can download it for free from our website for review.

FX VOLCANO indicator

Characteristics of the indicator for binary options FX VOLCANO

  • Terminal: MetaTrader 4 .
  • Time frame: M1-D1 (the creator of the indicator recommends using M5).
  • Expiration: from 1-10 candles.
  • Types of options: Call/Put.
  • Indicators: FX VOLCANO.
  • Trading instruments: all currency pairs.
  • Trading hours: 9:00-17:00.
  • Recommended brokers: Quotex , PocketOption , Binarium .

Installing the FX VOLCANO binary options indicator in MT4

Indicators are installed as standard in the MetaTrader 4 terminal.

Instructions for installing indicators in MetaTrader 4:

You can only configure alerts or colors in the main indicator:

FX VOLCANO indicator settings

In additional indicators, you can also configure only the visual part.

Trading rules and description of the indicator for binary options FX VOLCANO

As mentioned earlier, the indicator is based on strength and weakness, which means that a trend is important for successful trading with it, so it’s a good idea to understand what a trend is and how to determine it . And before moving on to the rules of trading using the FX VOLCANO indicator, it is worth considering additional tools that are used during trading.

The first and most important is the currency strength and weakness panel, which is located in the upper left corner:

Currency strength panel of the FX VOLCANO indicator

This panel shows where the eight major currencies are currently positioned. In addition to the digital display, where the maximum number is 10.0 and the minimum is 1.0, strengths and weaknesses are broken down by color:

  • Blue - weak position (downward trend in pairs where the currency is the main one).
  • Yellow and orange - neutral position (flat on all pairs based on this currency).
  • Red – strong position (upward trend in pairs where the currency is the main one).

And if you look at the chart at the moment, you can see that the EUR currency is now strong:

Currency Strength of the FX VOLCANO Indicator

In the same way, you can determine the situation on any foreign exchange market, regardless of the chart.

In addition to this tool, the panels for switching currency pairs and time frames, which are located in the upper right corner, can also provide a little help:

Panel of assets and timeframes of the FX VOLCANO indicator

The currency panel is divided into “major” pairs, “yen” and “minor”.

The trading rules themselves using the FX VOLCANO indicator do not require any experience in trading, as they are based on signals in the form of arrows. And accordingly, to buy Call options you need blue arrows, and to buy Put options you need white arrows:

Signals of the FX VOLCANO indicator

What you should pay special attention to is the strength of the currency being traded. If at the moment the signal to buy a Call option appears, the currency is in a weak position, it is better to ignore such a signal. The same is true for reverse signals. Currencies that are in neutral positions should also be skipped. As a result, the most correct entry into a trade would be this:

Example of a trade using the FX VOLCANO indicator

Accordingly, for Call options it is necessary that the currency be in a strong position, and for Put options - in a weak position.

The indicator also has alerts that signal the appearance of new signals:

FX VOLCANO indicator alerts

Examples of trading using the FX VOLCANO binary options indicator

Let's look at examples at what moments it would be possible to make transactions with the maximum chance of a positive outcome.

Opening a Call Option

Please note that until this time the trend was upward (if you scroll back on the chart) and therefore it is worth considering only buying Call options. Also, if the EUR currency was in a strong position at that moment, this would be an additional advantage:

Call options using the FX VOLCANO indicator

Note: During an uptrend, it is better to refrain from buying put options even though they may bring profit.

Opening a Put option

The situation with Put options in a downtrend is the same. Before this, the trend was downward, and also if the EUR currency was in a weak position, this would be an additional advantage:

Put options using the FX VOLCANO indicator

Conclusion

It is worth understanding that despite the rules of trading for any indicator, there are always exceptions and in this case, expiration can sometimes be adjusted depending on the strength of the trend, its duration and the trader’s trading style. Therefore, it is always necessary to test trading strategies and indicators on a demo account.

Also, regardless of the profitability of the trading system, proper trading is impossible without applying the rules of money management and risk management , as well as without a reliable broker, which you can choose in our rating of binary options brokers . We wish you successful trading!

Download the FX VOLCANO template and indicator

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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.

Pocket Option

See also:

Psychology in trading - what does a beginner need to know?

How to make money on binary options

Pros and cons of trading binary options

Do you make money on binary options?

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Comments

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Юрий
Юрий
Что хочу сказать, простой в использовании, понятный индикатор, самое главное не рисующий. Хотя и в рисующих индюках есть свои плюсы, например в не рисующем индюке появилась стрелка на продажу но цена развернулась а стрелка стоит, ложный сигнал, а рисующий эту стрелку бы убрал и тогда вы точно там бы не открыли позицию. По этому рисует не рисует это не так важно, важно точность и кол-во надежных сигналов
05 March 2021
Answer
Серж
Народ, кто нибудь разобрался зачем там три файла "FXVOLCANO_Entry" ?
они одинаковые, просто выдают сигналы одни раньше, другой индюк позе. короче суть в том что типа агрессивный вариант и спокойный. лучше конечно же использовать тот что в шаблоне идет
28 July 2020
Answer
Константин
Народ, кто нибудь разобрался зачем там три файла "FXVOLCANO_Entry" ?
26 July 2020
Answer
Серж
Я не совсем понял индикатор дается на тестовый период...!?
с чего ты взял? качаешь и пользуешься, никакого тестового периода нет.
26 July 2020
Answer
Ольга Георгиевна Нефедова
Я не совсем понял индикатор дается на тестовый период...!?
24 July 2020
Answer
Серж
Народ подскажите как результаты по данному индюку? Стоит заморачиваться?
та тут все также. ждут кто протестит. протестить самому будет самым правильным
24 July 2020
Answer
Иван
Народ подскажите как результаты по данному индюку? Стоит заморачиваться?
23 July 2020
Answer
Trader
Trader
норм, везде этот fx volcano платный, а тут бесплатный, спасибо!
29 June 2020
Answer
Серж
Спасибо, глянем что за птица такая
29 June 2020
Answer
Веталь
Веталь
форексный вулкан, ох и название)
29 June 2020
Answer
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