Binary option how to check a strategy 5 min
To set up their strategy, most traders uses the Meta Trader 4 platform as it offers 5-minute timeframes and allows for custom indicators. The best time to perform the strategy is during strong trends as we want to trade with the trend and not the countertrend. Using 21 EMA helps you visualise the current trend and place your trades accordingly. It is also important to check the economic calendar to spot major events that can move the price in one direction on another.
Thus, you can spot a strong move before the close of a 5-minute candle on the MT4. You can place your trade at the close of a candle or 1 minute before the close. To trade a Call signal, we look for up trends and breaks in the resistance. In our example, you see a strong bullish candle breaking the resistance, and at the close of that candle, you can place a 5-min Call trade. We get a Put signal when the price is moving in a downtrend and breaks the most recent support level.
You can enter your Put trade at the opening of the new 5-minute candle. You have to approach trading with lower expectations and follow real action on the charts to build knowledge.
Expecting high profits every 5 minutes is not going to lead you anywhere. It is also important to follow the price action closely and identify the breaking candles. These are drawn automatically and we only need to pay attention when an arrow appears. This strategy is based on tracking pinbars candles which have their wick at least 2 times longer than the body. This strategy is recommended for currency pairs, but it might as well work with other assets.
With these indicators we can enter a trade at the beginning of it and then ride with it. How to setup the chart […]. You may have seen this indicator before as it is usually a part of more complex strategies. This is a very thought out strategy which is among my favorites and it brought me lately interesting profits. Even though it is a more complicated strategy, trade openings are very comprehensible from the chart. Doubles strategy uses Bollinger bands which you may know already.
This video shows how to use multiple charts at IQ Option. This can be useful if trying to spot trends over multiple timeframes as mentioned above:. Traders simply pay attention to price action, the minute to minute changes in prices, and how that action behaves in order to make trading decisions. In the old days this was done by watching the ticker tape all day, today it is much easier and more fun to use a charting package like MT4. These will work with charts set to 1,2 or 5 minutes.
Scalping Strategies — Scalping strategies are very short term form of price action trading although they also incorporate other types of signals as well. Scalping, simply put, is a trade based on what you think the market is going to do in the next period, and this usually means minutes, never more than 10, 5 is perfect.
These strategies do not care about trend, only on which direction the market is going now and if it will keep going that direction long enough to place a quick trade.
These are best used with charts set to 5 minutes as the signals are generally good for the very next candle.