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Binary options trading is carried out primarily on short-term sections. A limited amount of analysis tools works in such circumstances, for example, fundamental analysis is definitely out. Using indicators for binary options without redraw in work is much more efficient. The value, which was calculated for a particular timeframe, remains unchanged.
- What is indicators without redraw
- Arrow-type indicators for binary options without redraw
- The difficulties
- The advantages of arrow-type indicators
- The best indicators for binary options without redraw
- Binary Option Arrows
- Profit Sunrise
- Trend Striker Extreme
- WPRSI Signal
- Six Second Trades
- Kill Binary Signals 2
What is indicators without redraw
First, it needs to be understood what indicators for binary options without redraw is. A term “redraw” is the effect of incorrect modification of indicators that are already calculated. In other words, when the chart just rewrites the previous indicators after a while.
Such updates are not critical in the cases when it comes to medium-term and long-term trading. That is not the case for the work with binary options taking place primarily on short timeframes. When the signal defines the entry point, the modification of indicators affects the result most directly.
There are two ways to define whether the indicator for binary option has redraw.
- It can be ordinary visual observation of the chart in all major timeframes as they get longer. The effect usually occurs within 25 candles.
- The second way provides for the search of redraw during the testing of trade strategy. Monitoring is carried out in three versions at once. “Only Short”, “Only Long” and “Long and Short”.
Three groups of indicators in which the redraw doesn’t appear can be distinguished:
- Classical – Bollinger Bands, Alligator, MACD, moving averages.
- For example, the combinations of MACD and RSI or CC show the good results.
- Specialized – Forex х Code, Trend Striker Extreme, WPRSI Signal, ZigZagger, SixSecondTrades and others. That’s exactly what we will further talk about.
Arrow-type indicators for binary options without redraw
A separate type of such indicators is so-called “arrow-type” indicators for binary options. Their peculiarity is the formation of colored pointers on the chart which show probable direction of price movement.
Green or blue color traditionally means the clue to buy an option UP, and red sign encourages to purchase an option DOWN.
Both arrows, and ordinary points can be used as pointers You should enter the trade right after the closure of candle in which the sign was formed.
In the vast majority of cases, arrow-type indicators are used for a classical binary options trading. Such trade is permissible if there are strong price levels.
Arrow-type indicators for binary options have two problems.
The first problem is still the same redraw. It so happens that the arrows suddenly change their direction or disappear right after the opening of trade. In this case, this is not only the last one, but also all previous signals. This means that the stabilizing mechanism is not configured in indicator properly in case of the entry of new quotes. Naturally, it’s difficult to consider that such messages are reliable for trading.
There is only one way to avoid this problem – to make sure preliminary that you’re using arrow-type indicator for binary options without redraw. It’s necessary that during testing, the signal remains unchanged even after noticeable changes begin to happen in the price chart. Without it, the work with this tool doesn’t make much sense.
The second problem, that trader who use arrow-type indicator can face, is related to the reliability of signals. Not every indicator of many presented on the market suits binary options. If in ordinary trading certain time defects are permissible because there is time to restructure in the right direction (for example, waited until reversal), then there’s no way to do that. Trader needs as accurate as possible projection for a certain candle or candle range.
The advantages of arrow-type indicators
This type of indicators are often referred to as semi-automatic advisers. They have the following advantages:
- Ease of use – to open the trade based on received signal is no big deal even for beginner.
- Good results on all time intervals when working with any underlying assets.
- Compatibility with other means of technical analysis.
The best indicators for binary options without redraw
To define, if this or that tool give signals properly, is possible only after work with it enough time. Brief overview of some popular indicators without redraw (links for downloading are presented below).
Binary Option Arrows
It’s very interesting indicator which can be found on the live chart https://new.tradingview.com/chart. In the menu click on the button of indicator and enter “arrows” in the search.
Indicator without redraw Binary Option Arrows for binary options is based on the methods of signals selection according to Japanese candles Harami. As soon as the signal appears, the indicator show an arrow in such direction in which the trade should be opened.
The indicator can be configured to time interval, for example, one minute. By combining appropriate asset and timeframe of the chart and indicator setting, you can develop an excellent strategy.
You noticed red and green bands on the chart – these are loss-making and profitable trades.
And, as you’ll guess, the most credible inputs are the ones that goes after series of red bands. That’s how I’ve got it. I opened the indicator on timeframe 1M and saw three red bands on EUR/USD (it’s a good sign, therefore the following signal will be definitely profitable), I instantly opened this page and configure proper asset, period is 60 seconds, investment amount is $40 and started to watch when the signal to buy an option will appear. Here it is:
It’s the signal to the fall in price which is not surprising after trend of increasing. I instantly opened the trade:
The period of option is 60 seconds – this is an excellent period for income by indicator. I won’t keep you waiting, this is what I got:
In 60 seconds I managed to earn 72% of income.
This indicator can be used as additional tool in combination with other indicators because it can be an excellent variant to combine different types of analysis.
An accurate, powerful and best indicator without redraw for binary options. As developers state, the indicator is based on unique algorithm which excludes mush and delivers signals as accurate as possible to access the trade.
In testing, this indicators brought 91% of profitable trades in 11 months from different currency pairs.
Trend Striker Extreme
On the chart of this indicator we see the histogram, every column of which corresponds to one candle. Blue ones demonstrate increasing trend, red ones demonstrate decreasing trend. You can configure the indicator to receiving audio signals which alert to potential entry points. In this case, the power of warning will be displayed in percentages as well.
In the vast majority of cases, these are precise, unambiguous signals, and, they appears quite often. The main disadvantage consists in timeliness – messages are delivered very late. Consequently, you should use this tool only in a pair with trend indicator in order to check signals accuracy additionally.
Indicator WPRSI Signal for binary options without redraw is based on the indicated values of oscillator RSI where traditionally a histogram is displayed under a price curve, but WPRSI Signal displays only arrows.
The figure shows a variant for “lazy” traders. All calculations have already been done for them by indicator. There is no histogram, the arrows say about its invisible presence. Blue ones say about the opportunity of purchase UP, red ones – DOWN.
Six Second Trades
If a trader works on the fastest 60 seconds options, he should try Six Second Trades. For work you have to configure indicator to one-minute period, after that you have to wait for signals forming. If the green point appears, it’s purchased UP, if the red one appears, it’s purchased DOWN. The tool is in great demand at traders who prefer to work with currency pairs.
You should enter the trade only after closing the candle during which the arrow was formed. As for free version, it will be necessary to wait for the closure of further bar. Correction is available only in the paid version.
Kill Binary Signals 2
A good free indicator which demonstrates good results when working with all assets and on any timeframes.
The interpretation of signals is traditional: blue arrow – UP, red arrow – DOWN. During flat the number of false reports significantly increases.
A high-quality indicator for binary options without redraw should meet the following requirements:
- The stability of positive results doesn’t depends on timeframe, the type of underlying asset and broker.
- The signals are formed timely, moreover, in sufficient numbers and relatively low percentage of false reports.
- Trader is given the opportunity to make a correction to particular conditions (not all free versions allow it).
In the specific case of arrow-type indicators, experts recommend not to really trust entry points which are displayed on their chart. Generally, all such indicators are often used as a filter, as a component of trader’s common tools for binary options.