First is the live chart itself, detailed instructions for its use are at the bottom of the page, under the video. Points on the chart are the ideas of all traders that use its full version. So you can in absentia “consult” with colleagues. Green dots are popular ideas for price increases. Red – decreases. Yellow – special ideas, without a pronounced movement. If the dots bother you, just click the icon that look like light bulbs
Next, a table of economic news. News with 3 “heads” always influence the market, be very attentive to them. The table shows the actual data (Actual), the one before (Previous) and Forecast.
If, at the output of the news, the forecast strongly differs from the actual data, the market often explodes with a strong reaction. You can trade it, but it is wiser to skip and enter a little later, when the excitement subsides. You can read more about this in the Schools website.
To the left of the news is a table of technical signals. This is a mechanical system based on 20 indicators, which show the direction of the market. Accordingly, the instructions Active buy and Active sell indicate trends – ascending (hence the recommendation to buy) and descending. The table allows you to not litter the chart with similar indicators, because it will show the direction of the market all the same.
The last table (Community Outlook) allows you to study what the retail market is inclined to (the data are aggregated from 60 brokers). For example, if, under the 85-90% of the market, it puts on EURUSD increase, we can well expect it to decline soon, because such is the basis of the market dynamics – if there are all buyers, then there is no one to sell and vice versa. It also allows you to enter against the crowd and use a variety of related strategies. Hovering the mouse over the desired asset, you will see the overall trend of the market as a percentage or you can rate it directly on the color indicator. ‘Short’ – is a deal to reduce the price, ‘Long’ – to increase it. The columns Avg. Short (Long) Price — shows where, in the opinion of the crowd, the price will go from its current value (indicated in the Current Price column).
Like the markets themselves, the live charts and tables are open from Monday through Friday.
To work with binary options, we need such a wonderful schedule. We will talk about how to use it below.
What is it good at? Apparently, ‘live’ (online), means that the quotes are displayed in real time. The platform on which the chart is made is implemented on HTML5, you do not need Adobe Flash, so the chart is as accurate and without delays as possible.
What is of interest on the chart. We need to:
- Choose an asset for which we will trade.
- Select the type of chart.
- Select the time period.
- Select the indicator (the most interesting).
Let us take turns going through each item.
Everything begins with this. Say, Binany has several dozen major assets and we need to choose one of them. Usually everyone tries with classic EUR / USD.
To select it, click in the leftmost window, erase the unnecessary inscription there and enter EURUSD or the pair that we need.
Choosing an asset to work with using the chart.
By the way, there are hundreds of assets, so if you need an exotic one, just enter one of its letters and you will receive a whole list at once.
The graph, in actuality, is not just one – it is made of about 10 popular ones. To choose the right option, use this menu.
Selecting the type of charts for binary options.
Which to choose? Well, choose the most super-duper popular schedule – which is certainly the candles (Candles). It is the most visual, and therefore everyone simply adores it. Most likely, it will be selected by default.
However, be sure to check out other graphs to get at least a general idea.
- Bars (pillars or histogram) – quite a graphic chart, but inferior in value to candles. However, some traders love it.
- Candles. Our all. It is the favorite and most popular option.
- Hollow Candles – the same version as the previous one, but growth quotes are colored not in green, but in white. This sometimes adds visibility at the auction.
- Heiken Ashi Rethinking candles. The chart is smoother and better suited for long-term, rather than short-term, trades. §
- Line (linear). The easiest schedule of all. It allows you to quickly assess the current trend – whether the currency goes up or down. But for real trading it is better to switch back to the candles.
- Area (colored linear). The previous version, but the bottom of the graph is colored for clarity, which better reflects the trend.
- Renko . For advanced professionals only. A chart from Japanese traders that does not take into account neither time nor volume of trades.
- Line Break (linear break chart). As Renko, schedule for advanced Pinocchio.
- Kagi . Another Japanese indicator, created already in 1870. Level- advanced.
- Point & Figure Special schedule to identify medium and long-term trends.
We will focus more on each version of the chart on separate articles. In the meantime, just choose Candles – it is on the candles that traders make their first money.
This moment is no less important than the schedule, indicator and bet size. The timeframe is a way to streamline the price movement by time. Say, if 5 minutes is selected – each candle on the chart will be drawn exactly 5 minutes apart.
Choosing a timeframe for trading.
Here is the beginning of what many people love. On the selection of the desired indicator, most traders loop. To do this, click on the ‘Indicators’ button.
The button to select indicators.
There are thousands of indicators, and you can select the most popular ones on the chart. The task of the chart is to display the current trends and try to predict the future.
There are thousands of indicators for binary options – but you will need only a few of them.
However, do not try to invent a time machine – no indicator, no matter how it is called, can predict the future 100%. This is not its task. The indicator allows you to identify the general trend, and the trend is such a that its development is not so difficult to predict.
In fact, you need such an indicator that shows a simple picture of the market. As a rule, these are various oscillators, Bollinger lines and other technical analysis tools.
For example, you can start with an indicator such as Price Oscillator. It is a price level oscillator. Simple and visual tool.
Price Oscillator indicator (price movement oscillator).
It is easy to use it. Let’s go further:
How to use the oscillator to buy binary options.
As you can see, the task is to go to the peak of the trend and buy a fall option, or go to the lowest point and buy it to the upside. The art of predicting trends using an indicator distinguishes a beginner from an experienced trader.
It will come with experience and after hundreds of deals – so do not try to rush it. Apart from that, consider trading without indicators – Price Action. This has a whole school about it on the site.
In addition to Price Oscillator, try indicators such as:
- Bollinger Bands– Where the upper and lower lines of the Bollinger converge as close as possible to each other – a trend change is possible there.
- MACD. When the red and blue lines intersect at the top or bottom of the chart, there will be a change in trend. Very useful and very popular indicator among traders.
- Moving Average Exponential – Another super popular indicator. Actually, we need them as many as three, with values of 6, 14 and 26. Add the indicator three times, click on the gear icon and enter the desired value. Here, too, everything works at the intersection of lines. When line 6 crosses line 14, line 26 is at the bottom below them and each is facing up — the trend will go up. Conversely, if line 26 is above line 14, line 6 is below both of them and each is facing down, you can buy at that low.
- Stochastic (also known as stochastic oscillator). The main interest is the lines above the shaded area and under it. It is for them to judge whether the trend will go up or down.
On the side of the chart you can see a lot of useful graphical tools with which experienced traders get the necessary supporting information. Consider these tools from top to bottom.
Drawing figures on the live chart.
- Intersection of the cursor (cross, point, arrow or eraser).
- A variety of lines. Allow you to draw trend lines at various angles.
- Trend Charts. Many graphical tools to help you predict the movement of the trend. To draw them, click on the maximum upper or lower candle in the left part of the chart, then drag it to the last candle on the right – so you can see the trend movement.
- Forms. Drawing a variety of graphic shapes – rectangles, ellipses, etc.
- Arrows and letters. Arrows and lettering help to mark the most useful points.
- To remove all your artwork, reload the page or simply select Eraser (eraser) in the first menu and delete all that is unnecessary. You can also select an icon with a brush and a wrench and disable what is not required.
- Positioning tools and patterns. Useful opportunity to choose, say, the price range in which you are interested to work and draw a projection for further work.
Do not get carried away with graphic elements and do not litter the schedule with your creativity. The main thing you need to find is the trend. For this indicators are not required, but may be of some assistance.
In general, this live chart is the most functional and most advanced option of all that you can meet. Only a specialized program like MetaTrader or ThinkOrSwim with special modules and settings can be cooler than it. But for them, we shall be having a separate conversation.
There is one small trick to using charts. You need to simultaneously monitor it and the broker’s window in order to place a bet on time.
It is most convenient to divide the monitor screen into 2 parts, say, the broker window on the right, the graph window on the left. But it is inconvenient to do this manually though it turns out uneven. For some reason, not everyone knows that in Windows 7 and 10 this is made much easier. Namely:
Select the browser window and press the key combination Win and the left arrow (right).
As a result, the window will take exactly half the screen! So you need two windows, for one you press “Win and the left arrow”, for the other – “Win and the right arrow”, then get the perfect window for bidding.
In addition, brokers offer options with an Android or iOS application — you can click on the Up or Down button, you can bet and select the time period directly on your smartphone, which somewhat adds convenience. But this is not a replacement for a full-fledged trading chart.