The binary options indicator Radar 2022 is designed to receive trading signals based on graphical analysis and, according to the author, uses various graphical figures. It is suitable for both binary options and Forex trading.
Please note that the Radar 2022 indicator is paid, but you can download it for free from our website for review.
Content:
- Radar 2022 Features;
- Installing Radar 2022;
- Review and settings of Radar 2022;
- Radar Trading Rules 2022;
- Opening a Call option;
- Opening a Put option;
- Conclusion ;
- Download Radar 2022 .
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Characteristics of the Radar 2022 indicator
- Terminal: MetaTrader 4 ;
- Timeframe: H1;
- Expiration: 3;
- Option types: Call/Put;
- Indicators: RADAR COMPLEX PRO_fix.ex4;
- Trading instruments: currency pairs , commodities, cryptocurrencies , stocks;
- Trading time: 8:00-20:00 Moscow time;
- Recommended brokers: Quotex , PocketOption , Deriv , Binarium .
Installing the Radar 2022 indicator
The Radar 2022 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 files there. Templates are installed in the same way, but are placed in the “Templates” folder. More detailed instructions for installing indicators can be viewed in our video:
Review and settings of the Radar 2022 indicator for binary options
Initially, you might think that the Radar 2022 indicator works like other indicators for finding graphic patterns, such as Price Patterns and Binary Double Top-Bottom , but its algorithm is completely different both visually and in settings.
Radar 2022, according to the author, finds graphic patterns on the chart, and then gives arrow signals based on them. For those who want to use the indicator on Forex, the signal also includes an estimated take profit level, which is displayed as a cube.
In addition to alerts and enabling/disabling the stop loss level, the Radar 2022 indicator settings contain:
- Filter . Filter by size to identify shapes. Values from 10 to 1000 are used here, and the higher the number, the larger, more significant formations the algorithm should find on the chart.
- Data size for figure analysis. Amount of data used for analysis. Increasing the parameter should improve the accuracy of graphic pattern identification.
- Signal accuracy . Signal accuracy, where you can select a value from 10 to 90. The higher the value, the more accurate the signal.
- Shape match . Shape match. Values from 10 to 90 set the criterion for the accuracy of matching the found graphic pattern to the ideal one.
- Signal generation . According to the author's documentation, it means a distance from the boundaries of the figure to generate a signal.
- Max bars . The number of bars used for analysis. It is not recommended to use values exceeding 15000, as this negatively affects computer resources.
Unfortunately, unlike most similar tools, the indicator for graphical analysis Radar 2022 does not visualize the found patterns, so you can only determine which of them formed the basis of the signal by looking at the chart. According to the author, classic graphic patterns are used here, such as head and shoulders, double top, triangle and others, and some of the signals are really similar to the result of working out certain figures:
But very often Radar 2022 can generate signals that are not related to any patterns at all, especially when the signals appear on a volatile candle not in the direction of the movement, but against it:
Now it’s worth discussing an important point regarding the settings of this indicator.
By testing different parameters, you can see that the Filter, Data size and Signal generation settings affect the frequency of the signals. You can verify this by comparing the same settings for three different timeframes. For the H1 chart of the EUR/USD currency pair, you can see the optimal quantity and quality of signals, but on H4 there are already many false ones, and on M5 there are no signals at all:
Filter, Data size and Signal generation are all sensitive to changes in values, but often in an unexpected direction. For example, by reducing the volume of data from 1500 to 500 for the same EUR/USD and M5 timeframe , we get an increase in the number of signals, most of which are false and do not correspond to any patterns:
The meaning of setting the offset from the boundaries of the figure to generate a signal (Signal generation) is not at all clear. Raising this value from 300 to 500 for the same graph and leaving the other parameters untouched, we get the following result:
The Shape match and Signal accuracy parameters do not affect the operation of the indicator at all. The signals are absolutely identical both for the smallest values of both parameters (10) and for the largest (90).
Based on the above, you can see that setting up the Radar 2022 indicator yourself will be very difficult even for experienced traders. Therefore, the author of the indicator provides a set of presets for most currency pairs, metals, cryptocurrencies, indices, stocks and commodities. All of them are configured for the H1 timeframe. It is important to choose the right preset depending on what numeric values your broker's quotes have. Presets are made for quotes with 4 decimal places and with five. After downloading the chart of a specific asset, go to the indicator settings and select the appropriate one:
For more information about installing files with preliminary settings, read our article “ How to install the MT4 indicator ”.
Trading rules using the Radar 2022 indicator for binary options
Despite the complexity of the settings and the lack of visualization of the found graphic patterns, Radar 2022 is capable of producing signals of acceptable quality without redrawing. Despite this, we strongly recommend filtering the trades offered by him yourself, since by trading against the trend, you will simply lose your deposit .
If you want to better learn how to recognize different phases of price movement, determine trends and flats in the market and filter out up to 75% of unprofitable signals, we recommend that you familiarize yourself with our materials:
- How does a trend work in markets?
- Identifying and using bullish and bearish trends.
- Market phase changes .
- How to determine a flat in the market?
As a result, to open a Call option you need to:
- The trend was upward.
- A trading signal to buy blue has appeared.
To open a Put option you must:
- The trend was downward.
- A red sell signal has appeared.
Immediately after the signal appears, you can buy an option with an expiration of 3 candles.
Opening a Call Option
In an uptrend, an indicator signal appeared - a blue up arrow. If these two simple conditions are met, you can buy a Call option with an expiration of 3 candles:
Opening a Put option
In the screenshot below we see that the trend is downward. After the red signal appears, you can immediately buy a Put option:
Conclusion
Despite the acceptable quality of Radar 2022 signals when working with the original settings, the indicator demonstrated a number of shortcomings during testing. The lack of visualization of graphic patterns makes trading difficult, since you can only rely on arrow signals, and the principle of its operation remains unclear. Selecting the correct settings for lower timeframes is extremely difficult due to the non-obviousness of the formulas and units of measurement for variables, and this is a significant obstacle to the conscious use of the indicator.
If you decide to trade using Radar 2022, we recommend that you carefully test it on a demo account , adhere to trend trading, risk management and money management rules, and also trade with a trusted broker, which you can find in our rating of binary brokers options .
Free download Radar 2022 indicator
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