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Using the informative indicator Binary Comodo, you can get bright signals that allow you to find the most attractive moments for concluding trading transactions with binary options. It was invented by R. Lasker and became a universal classic example of tools that provide high-quality signals for operations.
At the time of its appearance, this indicator made a splash in the field of trading, offering traders simple and convenient functionality to increase the level of profitability. An excellent advertisement was the statement that Binary Comodo combined the capabilities of more than 150 varieties of other tools used in working with binary options. However, it was only an excellent PR move. Its work is based on calculating the results of data coming from the RSI and 2 moving averages. Binary Comodo is most effective when trading in the direction of the trend.
How does Binary Comodo work on charts?
To enable the arrow indicator, you need to use the appropriate options offered on brokerage platforms. By turning on this tool, the trader receives informative arrows on the screen that show when transactions can be concluded:
- To enter the position, a green arrow is provided; it shows the merchant when it is necessary to purchase the selected asset.
- Red arrows indicate the best moment to sell.
Here you can set RSI periods and time frames yourself, providing the desired option. The longer the time interval is set, the smoother the look for the graph.
Application of the Binari Komodo indicator in option trading
The practical work of many traders with this tool confirms its effectiveness in 70% of cases, which is very good for such a convenient and affordable free indicator. The convenience of such a tool is that the trader sees the corresponding signal (in the form of a green arrow), and can open the corresponding CALL trade on the next bar or on a Japanese candle. When the red arrow is highlighted on the chart, then on the next candle or bar you need to perform the PUT operation.
Features of signals in Binari Comodo and parameter settings
Simple and affordable parameter settings for this indicator enable each trader to set the most comfortable modes for working with a specific type of chart. Binary Comodo cannot be used on scalping operations with a short expiration time (up to 1 minute). A trader simply does not have time to physically respond in time to the appearance of a “color” signal. Optimal will be deals with expiration from 5 minutes.
When working with this tool, you need to ensure that the timeframes on the asset chart correspond to the settings of the indicator itself. For example, trading at 10 minute intervals, it is necessary that the Japanese candles were installed on the M10 segment.
Professionals argue that it is better to take a half-hour timeout when important news is released, since this tool works only in the direction of the trend, and not when it changes.