It's no secret that the most effective indicators for trading binary options are scalper indicators. And all fans of scalping who have tested different strategies are familiar with constantly delayed signals and waiting for hours for notification of a suitable entry point.
If you are disappointed with other tools and want to find a more effective system, try the “Forex Speedometer”, whose main message is that “price must stop before it turns around.” This indicator is perfect for trading turbo options.
Preparing to trade with the Speedometer indicator:
Installing the indicator has some features. When unpacking the archive with “Forex Speedometer”, we copy the contents of the experts and templates folders, as usual when installing custom indicators, to the corresponding Metatrader4 directories.
The “speedOmeter” font file must be placed in the Windows folder to display data correctly. This is easy to do by going to “Control Panel” → “Management and Personalization” → “Fonts”.
The indicator consists of:
- tick chart;
- a speedometer with an arrow showing the average number of ticks per second;
- information window displaying statistics;
- tick chart showing the history of price changes.
In the settings, you can select the number of ticks on the history chart, the number of ticks that are taken to calculate the average value, color designations, how the speedometer is displayed - on the main chart on the right or below, next to the tick one.
Instructions for installing indicators in MetaTrader 4:
The “mechanism” of the Forex Speedometer indicator
The main distinguishing features of the strategy are simplicity and the absence of indicators.
The name most accurately defines the methods of generating a signal for binary options : for this, the speed of price movement on a tick chart is analyzed. We are not interested in long-term trends; trading is carried out on short-term fluctuations. Using this indicator, you can “catch” impulses inside the candle, rather than waiting for it to close.
Recommendations for use:
- timeframes - M15 and less;
- currency pairs - any, but preferably volatile ones;
- brokers whose quotes are 5 decimal places;
- Trading time is the European session and the beginning of the American one.
How to make trades using the Forex Speedometer indicator
We make a purchase (call option) if:
- The tick chart shows that the price is in the oversold zone, it is showing signs of beginning to rise;
- on the speedometer - 2.3 ticks or higher;
- We close the deal if the quotes have reached the overbought zone and started to decline, the speedometer records 1.5 ticks or less.
We make a sale (put option) if the following conditions match:
- on the tick chart the price is in the overbought zone and is about to decline,
- speedometer reading - 2.3 ticks or more;
- we leave the market when quotes dropped to the level of the oversold zone and began to gradually rise. The speedometer shows 1.5 ticks per second or less.
No indicator guarantees 100% profit; some transactions will have to be closed with a “minus”.
The Forex speedometer is an effective tool for scalping and turbo options, but you need to get used to it, just like the behavior of the currency pair you prefer for trading. A demo account is the best way to practice and see if this indicator is right for you.
Download the Forex Speedometer indicator
Can't figure out how this strategy or indicator works? Write about it in the comments to this article, and also subscribe to our YouTube channel WinOptionSignals , where we will definitely answer all your questions in the video.
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