The Golden Skull Redline binary options indicator is a signal indicator and combines three standard indicators - Moving Average, Moving Average of Oscillator and Bollinger Bands.
This indicator gives positive signals in 80% of cases and, most importantly, does not redraw, and you can work with it on M1 charts, which will undoubtedly appeal to scalpers. Its use on higher time frames is not excluded.
Characteristics of the Golden Skull Redline indicator
- Terminal: MetaTrader 4 .
- Time frame: Any.
- Expiration: 1 candle or 5 candles.
- Types of options: Call/Put.
- Indicators: Golden Skull Redline.
- Trading instruments: Any.
- Trading hours: 9:00-17:00.
- Recommended brokers: Quotex , PocketOption , Alpari, Binarium .
Installing the Golden Skull Redline Indicator in MT4
The indicator is installed as standard in the MetaTrader 4 terminal.
We leave the indicator settings unchanged.
Instructions for installing indicators in MetaTrader 4:
Rules for trading using the Golden Skull Redline indicator
Since this indicator for binary options includes other three indicators, we do not need to monitor the price ourselves, but just need to wait for the signal (“cross”) on the chart, which will be a signal to enter the position.
In addition to the fact that the indicator does not redraw signals, its second important advantage is that it does not need additional filtering, since this algorithm is already included in the indicator code. Accordingly, we receive signals for binary options from three indicators at once.
It is worth noting that the signals appear shifted one candle back, which may make it seem that the indicator is giving signals that are no longer relevant, but this is not the case. In the examples below, you will see that even with such an offset, the signals are still processed.
Examples of trading using the Golden Skull Redline indicator
Now let’s look at everything using real examples to make it clearer what “crosses” we are talking about.
We will use a pair known to everyone - USD/JPY.
Opening a Call Option
As soon as we receive a signal (“cross”), we can immediately open a position.
As a result, with an expiration of 5 minutes, we would get a profit.
As can be seen from the example, in addition to our entry into the position, we can see other signals in different directions, which would also be closed in plus with both types of expirations.
Opening a Put option
This example is no different from the previous one in terms of profit and signals. We received the signal and immediately entered into the trade. Our 5 minute expiration would have yielded potential profit, and other signals also worked well.
Conclusion
The Golden Skull Redline binary options indicator deserves the attention of any trader, since its signals are quite accurate and there are quite a lot of them. Typically, if signal indicators give such a number of signals, they are false. On top of that, this indicator can be used by beginners without any problems, since its signals are easy to understand, and it is based on indicators known to many.
However, do not forget that money management rules are important in trading, which should be strictly adhered to, and it is also worth testing each strategy before working on a real account.
To start working in the binary options market, of course, you will need a good and proven broker. You can find one in the rating of binary options brokers on our website. Choose the one you like and start trading in the near future. We wish you success!
Download template and indicator Golden Skull Redline
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See also:
Strategies for trading binary options
Useful articles about binary options
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