Technical tools of the TradingView platform: more tools, more profit
- VFX Blog
- For beginners
Basic technical analysis tools continue to be profitable even when high-frequency trading (HFT) has taken over most of the market. Brokers are in no hurry to expand the list of instruments; in search of new ideas on how to make money on binary options, you have to use additional software.
Binary options signal service vfxAlert allows you to connect any broker. A set of tools usually looks like this:
There is a basic set of indicators and graphic elements, you can start trading. You cannot add a new one even if it is much more profitable than the "classics". Now let's switch to embedded charts from the popular TradingView platform:
A wide range of non-standard indicators, chart patterns, lines and trading assets. You do not need to exit vfxAlert. Let's see how it works.
TradingView strategy
The basic principle of the strategy: it analyzes the market using the TradingView indicators, only open a deal on the broker.
Type: | Trend. |
Timeframe: | Any in the range M1-M5. In our case, M1 is used, but with an increasing period of analysis, the accuracy of the signal an increasing. |
Trading asset: | Any currency pair. The main requirement is a fixed (2-3 points) spread and no hidden fees. |
Trading time: | All Forex trading sessions. |
Percentage premium option: | Not less than 70-75%. |
The strategy uses two technical indicators that are not included in the basic set of most binary options platforms:
• Hull Moving Average (HMA) with 15 periods for M1 (fast) and M5 (slow) timeframes. The author is an Australian trader Alan Hull, who proposed to reduce the delay using instead of the actual value of the period price its square root. As the base average will be WMA, its system of weights adds accuracy binary signals.
• Elder's Force Index (EFI). Measures the power behind a price movement using price and volume. The indicator can also be used to identify potential reversals and price corrections. The EFI is an oscillator that fluctuates between positive and negative values, above and below a Zero Line.
After installing the tools, the terminal's working window looks like this:
Binary options signals:
Once again, we remind you that options are opened when the current trend ends with a confirmed price reversal.
• CALL-option. The price and “fast” HMA cross “slow” one from bottom up, the Elder Force Index is above the zero levels.
• PUT-option. Opposite conditions: the price and "fast" HMA crosses the "slow" one from top to bottom, the Elder Force Index is below zero.
• Experienced traders can open options on HMA(15, 5) bounces. Newbie’s only traded HMA crossovers!
Open a trade on the next candle after binary signals. Time of expiration of options has to be not less than 5-7 minutes even if as a working timeframe it is chosen of minute, as in our video.
Recommendations about use …
• The calculation results HMA exceed the average price values and are too close to the chart on small timeframes, which increases the number of free binary signals. MA should not work like this even if everything is good on historical data - if there is too "close" interaction increase the number of periods;
• We monitor the binary trading platform for the release of important fundamental news and statistics. We do not open the option immediately after the publication, and, if possible, close the current transaction 15-20 minutes before publication;
• If the broker makes it possible to close the option before on expiration, we do it (even if it in profit!) at the emergence of an opposite signal
Let`s summarize. TradingView platform tools provide an additional opportunity to find many good binary options signals. Always look for something new, and then you will always be ahead of other traders.