Binary Options Tools

Everything you need to trade binary options successfully, all in one place and all explained in detail! In this section, you will find our in-depth explanations and reviews for the most profitable binary options trading tools and indicators out there. Understand and learn how to use them to your advantage!

Tools
Service name Level Like Suck
Japanese Candlesticks Newbie 23 1
Mega Trend Indicator Newbie 9 0
Bollinger Bands Indicator Newbie 24 0
Ease Of Movement Indicator Advanced 1 0
Live News Indicator Advanced 5 0
Relative Strength Index Advanced 5 0
Time Series Forecast Indicator Newbie 8 1
Average Directional Movement Advanced 8 0
Trade Assistant Tool Expert 18 1
Support Resistance Indicator Advanced 11 1
Urban Towers Indicator Expert 4 0
Binary Options Economic Calendar Newbie 7 0
TMA Indicator Newbie 8 1
Keltner Channels Tool Expert 2 0
Convergence of Indicators Expert 1 0
Paint the Town Red Advanced 1 0
Fisher Transform Indicator Advanced 12 0
Zig Zag Indicator Advanced 3 0
Directional Movement Index Advanced 1 0
The Autochartist Tool Advanced 10 1
Heikin Ashi Candles Newbie 17 2
TiG Wave Indicator Not Recommended 1 3
Risk Management Calculator Not Recommended 3 1
CCFP Indicator Advanced 3 0
The Fibonacci Tool Advanced 9 0
Quickfib Indicator Newbie 8 0
Harami Reversal Patterns Advanced 2 0
Average Daily Range Tool Advanced 2 0
MA Convergence Divergence Tool Newbie 16 1
Time VIII Indicator Newbie 6 0
High Low Moving Average Indicator Advanced 0 0
The Divergence Tool Expert 14 0
Twiggs Money Flow Not Recommended 0 0
Chart Pattern Recognition Tool Advanced 16 0
Historical Chart Tool Newbie 2 0
The Force Indicator Newbie 5 0
US Dollar Index Tool Expert 0 0
Parabolic SAR Tool Advanced 5 0
Pinbar Detector Indicator Newbie 2 1
The Strategy Tester Newbie 21 0
Pivot Calculator Tool Advanced 1 0
Stochastic RSI Indicator Expert 2 0
Balance Of Power Indicator Newbie 1 1
Basic Price Channels Tool Newbie 3 0
Financial Calendar Newbie 4 0
Big Table of Currency Correlation Advanced 7 0
Currency Strength Indicator Advanced 4 2
AutoTrader Signals Advanced 6 0
Chart Patterns Tool Advanced 16 0
MetaTrader4 Newbie 21 1
Historical Charts Newbie 2 0
Volatility Tool Newbie 3 0
Linear Regression Channel Advanced 3 0
Standard Deviation Channel Indicator Advanced 1 0
Ichimoku Indicator Newbie 8 2
Retracement Finder Indicator Advanced 8 0
Pivot Points Tool Newbie 10 0
Accumulation/Distribution Line Tool Expert 0 0
The Advance Decline Indicator Expert 0 0
Alligator Tool Expert 4 0
Momentum Index Tool Expert 2 0
Awesome Oscillator Tool Expert 4 0
Donchian Channel Indicator Advanced 3 0
The Divergence Tool Expert 14 0
RSIMA Binary Options Tool Advanced 3 0
DSS Bressert Indicator Advanced 13 3
Dynamic Zone RSI Tool Advanced 3 0
Ease Of Movement Indicator Advanced 1 0
Stochastic Divergence Tool Newbie 2 0
Japanese Candlesticks Advanced 13 0
Jensen’s Alpha Indicator Advanced 1 1
JMA Ribbon Binary Options Tool Advanced 8 2
KDJ Stochastic Indicator Newbie 11 0
Keltner Channels Tool Expert 2 0
Linear Regression Curve Indicator Advanced 3 0
Moving Averages Newbie 11 1
Multiple Time Frames Indicators Series Newbie 41 5
NetDania ChartStation Newbie 10 1
Roll Over and Close Now Tools Newbie 5 1
Stochastic Oscillator Tool Newbie 1 0
The Aroon Oscillator Indicator Advanced 0 0
The Commodity Channel Index Tool Newbie 2 0
The must have Trading Tool Newbie 5 0
The Option Builder Tool Newbie 2 0
The Ultimate Oscillator Advanced 1 0
TiG Wave Indicator Not Recommended 1 3
Traders’ Dynamic Index Expert 56 8
TradingView’s Free Charting Package Newbie 11 0
ULTRA TMA Tool Advanced 4 0
Volume Flow Indicator Advanced 5 0
Volume Indicator Newbie 4 0
Wilder’s Smoothing Tool Advanced 1 0

Trading Tools and Indicators

I have met a lot of traders who trade with just a naked chart and no indicators at all. Their argument is that all indicators are derived from the price itself and lag behind it. Indeed, all indicators use price to calculate their values. But does that make them useless? Not by far. Indicators help us filter out the noise in the market and show us the big picture at a glance by smoothing the price movement. Well, at least some of them do, because there are a lot of “bad apples” among all the tools and indicators available out there. So let’s see what we can choose from.

 

Old School Indicators

Some of the most respected and widely used indicators still remain the old ones, invented by the real market gurus: John Bollinger invented Bollinger Bands in the 1980s, George Lane, together with a group of futures traders, created the Stochastic in the 1950s. In the 1970s, when everybody was smoking weed and listened to The Doors, Gerald Appel was working on his masterpiece: the MACD. Of course, I couldn’t forget about the man who created the Relative strength Index, J. Welles Wilder. These are, in my opinion, the bread and butter of a technical analyst. Everybody who wants to have a good understanding of the technical aspect of the market must learn about these indicators in detail. There are other important and useful indicators, and just because they are not mentioned here doesn’t mean they are not good enough.

 

New School Indicators

These are the fancy indicators, developed more recently, but most of them are just modifications of the old ones. However, there are new tools that can really help a trader, although they don’t show price direction. Among these tools you will find trend lines or Fibonacci levels that are drawn automatically on the charts and also software that can recognize chart patterns or candle formations. There are so many indicators these days that choosing the right one can be quite daunting sometimes. First of all, you must know why you are going to use that indicator. Will you use it for trend recognition or for timing the entry better? Or maybe you will use it to tell you when to close your trade early. Once you know what you are looking for, you will probably find indicators to help you specifically with these.

 

The Repainting Indicators

These are the ones that everybody tries to avoid… because they lie. By repainting indicators, I mean the ones that look good if you check back on the charts because they will “adjust” themselves even after several candles are closed. That makes it look like they give amazing signals but if you watch them in real time, you will see how they adjust to fit the market… after the market has already moved. That makes them almost completely useless because you will never be able to take the signals you see. To put it simply, if you scroll your charts back, they look like the Holy Grail and in real time they just Suck big time.

 

The “Puke” Indicators

These are mostly used by the scammers who try to sell you “a secret never heard before, used by major hedge funds and banks”. I am sure you received a lot of e-mails advertising this type of indicator. They try to mess with your head, advertising “easy and quick” profits, no experience needed, no financial knowledge… so you don’t need a lot of intelligence or education because the indicator they sell you will make up for all that. The indicator they advertise is so good that you actually can operate it even if you have a 2 digit IQ. And of course, it will bring you huge profits. To “prove” it, they show you a picture with some repainting indicator that looks great in hindsight, just like I said in the previous paragraph. The big disappointment will come after you actually purchase the “secret” indicator and realize that its only use is… well, actually this kind of indicator is as useful as “puke”. Just don’t buy anything from websites that sell you overnight riches for just $99.99. No indicator sold in this manner will help you with your trading in the long run.

 

Wrapping It Up

I think you need to find the right mixture or “recipe” when using tools and indicators. Some of them help you identify the main trend while others help you pinpoint the exact entry. Finding the right combination requires a lot of hard work and attention to detail. All indicators will give both good and bad signals and can fail if they are used on their own. Therefore, I don’t think that you can rely only on a single indicator to make big bucks in this business. Combine their strengths; and whatever you do, don’t waste your money, because almost all the best indicators and tools are free.

 

Search

Every Newbie trader must learn to make use of various trading tools and indicators, and every experienced trader knows the true power of trading aids. Search for Binary Options Trading Tools and Indicators here.

 

Learn

There are so many Tools and Indicators out there. Some might suck, some are good for newbies or a must have and others should only be used by PROS. Browse trading aids by level and user ratings.

 

Choose

Trading Tools and Indicators are the elements that make the building, or in our case – the Trading Strategy. Choose the best trading aids to match your level of experience and style of trading. Remember – Even the Best Binary Options Tools and Indicators Suck Sometimes!

 

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