The indicator for binary options Gann Made Easy was created for trading according to the methods of the legendary trader - William Gann. This man, without any education, managed to earn more than 50 million dollars using his own methods. A unique strategy based on market cycles brought him a huge fortune. To this day, his phenomenal ability to predict market reversals remains a mystery.
This indicator is based on the best principles of its trading and is capable of providing accurate buy and sell signals in combination with stop loss and take profit levels, which is important for Forex trading. This tool may not become a real hero in the world of the foreign exchange market, but for binary options it has quite decent potential. In our opinion, it is definitely worth attention, but it needs to be used in a special way. How exactly - read the review.
Content:
- Characteristics
- Installation
- Overview and Settings
- Gann Made Easy Trading Rules
- Opening a Call Option
- Opening a Put option
- Conclusion
- Download Gann Made Easy
Characteristics of the indicator for binary options Gann Made Easy
- Terminal: MetaTrader 4
- Timeframe: H1
- Expiration: 3 candles;
- Option Types: Call/Put
- Indicators: GannMadeEasy.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 binary options indicator Gann Made Easy
The Gann Made Easy indicator is installed as standard in the MetaTrader 4 platform. 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 move all the files there. Templates are installed in exactly the same way, but are placed in the “templates” folder. For more detailed installation instructions, see our video:
Review and settings of the indicator for binary options Gann Made Easy
The indicator for binary options Gann Made Easy was created based on the theory of William Gann. It is difficult to understand not only for beginners, but even for experienced traders. Many of its elements are based on planetary aspects (the interaction of planets), natal charts (diagrams of the location of celestial bodies on a specific date) and astrology. Equally challenging are more mundane techniques like the Fan, Square of Nine, and Gann Hexagon, as well as time cycle analysis, which examines repeating price patterns.
To simplify market research, a tool was created that generates buy and sell signals based on the best recommendations of the Gann methods. Now the binary options trader's job has been simplified to simply following the signals of the arrow indicator, and for those who trade on Forex, he kindly provides stop loss and take profit levels.
It has few settings. Obviously, the developer closed most of them, leaving the user to choose the color of the profit taking and stop loss levels, as well as the size of the signal arrow - an incredibly “important” characteristic.
But what really needs to be adjusted if you trade Forex is the distance in points from the opening price of the signal bar to the stop loss level, called “Multiply Risk Stop” in this tool. This value determines how far the Stop Level will be located from the opening price.
As we can see, our assumptions were confirmed. In the chart above, the signal occurred on a bar with an opening price of 1.66194, and a stop loss was set at 1.66655. The difference between these values gives -0.00461. It is this number in points (-461) that is highlighted next to the Stop Level.
Now let’s compare what the charts look like with different “Multiply Risk Stop” settings.
As you can see, the larger the “Multiply Risk Stop” value, the farther the “Stop Level” is from the opening level of the signal candle. Thus, the return/risk ratio will be worse the further the stop loss is set, given that the take profit levels do not change.
Now about the bad. This indicator has certain disadvantages: these include a rather rough adjustment of the coefficient described above. It can only be changed in steps of 1, which in our opinion is very rude.
In the last block of parameters, you can enable/disable alerts with the ability to send them as a standard pop-up message, an email, or a Push message.
Trading rules using the indicator for binary options Gann Made Easy
Gann Made Easy binary options indicator works on any index, metal, cryptocurrency and time frame . However, in practice we recommend using it in conjunction with a trend analysis tool. You can choose the one that suits you best from our selection of the best trend indicators for binary options .
To increase the percentage of profitable trades, we will add an exponential moving average with a period of 100 to the chart. We will take buy signals from the Gann Made Easy binary options indicator only if prices are above EMA (100). For sales, the conditions are mirrored.
To open a Call option:
- The closing price of the previous bar is above EMA(100)
- A blue arrow has appeared
- Immediately after the arrow appears, without waiting for the candle to close, open Call
To open a Put option:
- The closing price of the previous bar is below EMA(100)
- A golden arrow appeared
- Immediately after the arrow appears, without waiting for the candle to close, open Put
Recommended expiration time is 3 candles. However, for a particular instrument, the position holding period should be selected based on the results of backtesting and the timeframe used.
Opening a Call Option
In this example, the trend is up as the price is above the EMA (100). Then a blue buy signal appeared. We buy a Call option without waiting for the candle to close, immediately after the arrow appears.
Opening a Put option
Here the trend is downward, as the price is below the EMA (100). A red sell signal has appeared. We buy a Put option without waiting for the candle to close, immediately after the arrow appears.
Conclusion
The Gann Made Easy binary options indicator gives every trader a chance to take advantage of Gann's recommendations. With its help, you can significantly simplify the analysis of any financial instrument. In this case, no prior knowledge of the methods of a great trader is required. If you want to understand what it would be like to trust the advice of William Gann himself, we recommend downloading this indicator.
In our opinion, this tool definitely deserves attention and is worth the money. By filtering its signals using a moving average, you can increase trading efficiency and the number of profitable transactions. Check out how it works on a demo account and share your impressions in the comments. We are interested to know your opinion. Do not forget to apply the rules of risk management and money management . We wish everyone successful trading!
Download binary options indicator Gann Made Easy
Try on a demo account
See also:
Current bonuses and promotional codes for BO
To leave a comment, you must register or log in to your account.