The TJ10X Forex Indicator was originally created for the Forex market , but can easily be used by traders when trading binary options , as it is a signal indicator with five different trading modes, which are suitable for both fans of turbo options and those who trade exclusively according to the trend .
The indicator for binary options TJ10X Forex Indicator v 1.0 is paid and costs $59, but you can download it for free from our website for review.
Characteristics of the indicator for binary options TJ10X Forex Indicator
- Terminal: MetaTrader 4 .
- Timeframe: M1-D1.
- Expiration: 3 or 5 candles.
- Types of options: Call/Put.
- Indicators: Tj10x_Indicator.ex4.
- Trading instruments: currency pairs , stocks, cryptocurrencies , commodities.
- Trading time: 8:00-20:00 Moscow time.
- Recommended brokers: Quotex , PocketOption , Deriv , Binarium .
Installing the binary options indicator TJ10X Forex Indicator in MT4
The indicator is installed as standard in the MetaTrader 4 terminal.
MetaTrader 4 instructions for installing indicators:
Review and settings of the TJ10X Forex Indicator for binary options
Before moving on to the trading modes of the indicator for binary options TJ10X Forex Indicator, let's look at its settings:
As a result, the indicator doesn’t have many really important settings, since most of them relate to alerts and the visual part. And the only variable that is responsible for signals for binary options is the “Factor” variable, which allows you to select one of five binary options trading modes, which we will consider in more detail below.
The “ShowLine”, “ShowBars” and “ShowArrows” variables allow you to enable or disable the indicator line, bars and signals.
You can also set up alerts (“Alerts” and specify where the indicator’s information panel will be located using the “Corner” variable (the panel can be located in any of the 4 corners of the chart).
The indicator itself is made in the form of a line that follows the price, and signals in the form of arrows that appear when the color of the line changes.
The TJ10X Forex Indicator v 1.0 can be called a universal indicator for binary options, as it has five different modes, which include:
- Scalping;
- Fast Scalper;
- Tick Trend;
- Swing;
- Trend.
The scalping mode on binary options (Scalping) allows you to enable frequent signals that will appear during small market fluctuations, but please note that false signals may appear in flat markets:
The Fast Scalper mode can hardly be called scalping, since the signals become more rare, but false signals can still appear in the flat:
The Tick Trend mode is only suitable for trend trading , since signals against the trend are most often false, but signals along the trend can bring good profits:
Swing mode is a more trendy mode and in some places false signals can already be avoided:
And the last Trend mode is the maximum trend mode, which reacts only to prolonged flats, but passes through price noise:
As a result, it’s worth choosing several of all five modes and there is no point in using each of them, since they are all similar to each other.
Also, the indicator for binary options TJ10X Forex Indicator has an information panel, some of the information on which is intended for the Forex market, but there is useful information about the strength of the trend for binary options, which is displayed in the form of a white arrow and green numbers opposite the signature - Trend Power:
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As a result, the stronger the trend, the higher the value. And an arrow pointing up indicates an upward trend, and an arrow pointing down indicates a downward trend.
Trading rules using the TJ10X Forex Indicator for binary options
Since the indicator for binary options TJ10X Forex Indicator has several trend trading modes, to effectively trade with it you should understand how the trend works:
- 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 .
Now, to start trading using the TJ10X Forex Indicator v 1.0, you need to decide which mode suits you best, and then select it in the settings.
As mentioned earlier, it’s worth stopping at a couple of modes, since they repeat each other and are very similar, which means you can choose either the scalper mode for turbo options, or the trend mode.
For the scalping mode, the trend is not particularly important and you can buy options based on signals with an expiration of 3 candles. Therefore, when the green arrow appears, the Call option is purchased, and when the red arrow appears, the Put option is purchased:
For a trend mode, the trend is already important and therefore transactions must also be made based on signals with an expiration of 5 candles (more is possible), but only according to the trend and also pay attention to the strength of the trend on the panel:
Signals and trading using the TJ10X Forex Indicator
And for example, let’s take a few more examples of trading in Scalping and Trend modes.
In Scalping mode, transactions are made with an expiration of three candles (the trend is not particularly important):
In trend mode, the trend is already very important, and its strength is also important, so options are bought only along the trend with an expiration of 5 candles or more:
Conclusion
Considering that the indicator is universal, it is suitable for all types of traders, but it can confuse beginners, since using different modes you can receive many false signals. To avoid this, the indicator for binary options TJ10X Forex Indicator must be tested in different modes on a demo account , and then start trading only with small amounts.
In addition, in order to protect your deposit, you should always remember the rules of money management and risk management , and also trade only through a trusted broker, which can be found in our rating of binary options brokers .
Download TJ10X Forex Indicator for free
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See also:
How to make money on binary options
Pros and cons of trading binary options
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