Indicator for binary options SysDojiRev

The signal indicator for binary options SysDojiRev gives very simple trading recommendations in the form of arrows, so even completely inexperienced traders can easily use it. The indicator is based on the Doji Reversal candlestick pattern in combination with a simple moving average .

The Doji reversal indicator is sold online under different names with a wide range of prices, but you definitely shouldn’t rush to buy it. The fact is that back in 2010, Franklin Ojoa posted the SysDojiRev code as a free supplement to his book “Proven Methods of Making Money in the Market.” You can download this indicator for binary options with some minor but useful functional improvements on our website completely free of charge.

Content:

• Characteristics SysDojiRev;
• Installation SysDojiRev;
• Review and settings SysDojiRev;
• Trading rules according to SysDojiRev;
• Opening a Call option;
• Opening a Put option;
• Conclusion;
• Download SysDojiRev.

Characteristics of the indicator for binary options SysDojiRev

• Terminal: MetaTrader 4 ;
• Timeframe: M5-H4;
• Expiration: 3 candles;
• Option types: Call/Put;
• Indicators: ! sysDojiRev_v1.2 ntk (alerts + btn).ex4;
• Trading instruments: currency pairs , commodities, cryptocurrencies , stocks;
• Trading time: 8:00-20:00 Moscow time;
• Recommended brokers: Quotex , Pocket Option , Deriv , Binarium ;

Installing an indicator for binary options SysDojiRev

The SysDojiRev 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 file there. The template is installed in the same way, but is placed in the “Templates” folder. More detailed instructions for installing indicators can be viewed in our video:

Review and settings of the SysDojiRev indicator for binary options

The main function of the SysDojiRev indicator for binary options is to search for the “Doji Reversal” candlestick pattern on the chart:

The algorithm identifies combinations where the body of one candle is no more than 10% of the total size of the next one. Depending on the location of the current asset price relative to the simple moving average, as well as taking into account the closing price of the next two candles, the indicator gives arrow signals to open Call or Put options:

Thanks to the open source code of the indicator, we know for sure that the indicator uses the following conditions to generate a signal to buy a Call option:

1. The top of the Doji candle is below the 10-period simple moving average.
2. One of the two candles following the doji is closed above the doji candle.

For Put signal:

1. The bottom of the Doji candle is above the 10-period simple moving average.
2. One of the two candles following the Doji is closed below the Doji.

Small but useful improvements to this version of the SysDojiRev indicator are the ability to receive pop-up and sound alerts when new signals appear for binary options trading, as well as a special button that turns on and off the display of arrow signals on the chart:

The SysDojiRev indicator settings allow you to change the maximum ratio of the body of a Doji candle relative to the size of the next candle in the percentage parameter. Other settings allow you to influence alerts, visual parameters of signals and the location of the button for switching the indicator mode:

Trading rules using the indicator for binary options SysDojiRev

Before you start trading the SysDojiRev indicator for binary options, you need to make sure that you are familiar with the principles of candlestick pattern trading. Our selection of materials will help you with this:

• Japanese candlesticks and how to read them .
• Price Action and patterns in binary options trading .
• Candlestick analysis in binary options trading .

The Doji candle itself should be interpreted as uncertainty in the market: the current trend has exhausted itself, the capabilities of sellers and buyers are balanced, and the likelihood of a trend reversal has increased significantly. The SysDojiRev indicator not only identifies Doji candles, but also tracks the next two, so a signal to buy a binary option appears only when the first signs of a trend reversal appear according to the SMA indicators and the closing price of the candles following the Doji.

It should also be taken into account that using the SysDojiRev indicator on binary options will be more effective on higher timeframes . The author of the indicator in his book notes that he himself prefers to use it on the H1 timeframe, since the longer it took for the doji to form, the more reliable the signal will be. This does not mean that SysDojiRev cannot be used on lower timeframes, but on M1 you will receive too many false signals. For this reason, using the indicator on time frames M15 and higher is preferable.

The Doji Reversal pattern is best used when trading trend-driven binary options. In this case, SysDojiRev will signal the likelihood of completion of a short-term price pullback against the trend, and the use of such signals will be most effective.

If you are just starting your journey in binary options trading and are having difficulty identifying a trend, our article “ Identifying and using bullish and bearish trends ” will definitely help you master this skill. In addition, to determine the trend, you can use the readings of one of the auxiliary indicators from our selection “ Best trend indicators for binary options ”.

So, the rules for buying a Call option will be as follows:

1. The market is in an upward trend.
2. A green up arrow signal appears.

At the opening of the next candle, you can buy a Call option with an expiration of 3 candles.

To buy a Put option:

1. The market is in a downward trend.
2. A red down arrow signal appears.

At the opening of the next candle, you can buy a Put option.

Opening a Call Option

In the screenshot below, both conditions for buying a Call option are met: there is an upward trend in the market, and a green up arrow has appeared. You can buy a Call option.

Opening a Put option

In the screenshot below we see that the trend is downward. Therefore, after the red down arrow appears, you can buy a Put option at the opening of the next candle.

Conclusion

The signal indicator for binary options SysDojiRev is very easy to use and quite effective. The candlestick patterns on which it is based may not be considered the grail of technical analysis, but nevertheless, this classic method is time-tested. The algorithm for the appearance of SysDojiRev signals is completely transparent and understandable, unlike the readings of many other expensive but dubious indicators with secret formulas and redrawing of signals.

When testing SysDojiRev for binary options on your own, do not forget that any experiments with trading rules and settings should be carried out only on a demo account . On a real account, applying the rules of money management and risk management will increase profitability and limit losses.

If you have not yet chosen a platform for trading binary options, first of all pay attention to our rating of reliable brokers .

Download SysDojiRev indicator for free

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See also:

Books on trading

Current bonuses and promotional codes for BO

Live chart for binary options online

Official binary options brokers in Russia