Sane Fx Binary Options Indicator For MT4 provides arrow-based bullish and bearish forex and binary options trading signals without repainting.
The Sane Fx Binary Indicator for MetaTrader4 is a non-repainting indicator that provides arrow-pointed forex trading signals. Trading signals work best on shorter time frame charts or intraday price charts. Therefore, this MetaTrader indicator can work best among day forex traders. The indicator’s simplicity is widely appreciated, as it does not contain any user-input settings other than alerts.
Both novice and advanced forex traders can easily use this indicator as the only outputs of the indicator are up and down arrows. An important feature of this MetaTrader indicator is that the indicator does not repaint and produces stable signals. Also, as mentioned earlier, the indicator works well on intraday price charts. Although the indicator works on daily, weekly, and monthly charts, the results may not be as impressive as on lower time frame charts.
Sane Fx Binary Indicator
For MetaTrader4 Trading Signals
The above EURJPY M15 candle price chart shows the Sane Fx Binary Options Indicator for MT4 in action. The indicator plots bullish arrow trade signals in green and bearish arrow trade signals in red.
When the indicator shows a green arrow on the chart, it means that the market is bullish. Therefore, forex traders can enter a buy position with a stop below the previous swing low. On the other hand, a trader can exit a position on an opposite trading signal. The indicator does not provide a profit target, so forex traders should exit with a good risk-reward ratio or when an opposite trade signal appears.
Likewise, the appearance of a red arrow on the chart indicates a bearish price trend. Therefore, forex traders should place stops on sell trades above the previous swing high.
The best time to trade this indicator is during the European and American trading hours. But the indicator provides many trading signals within a day. Therefore, traders should use additional trend indicators to filter trading signals and only trade in the direction of the trend and avoid trading in the direction of the counter trend.
Additionally, trading towards higher time frame price charts also helps traders maintain a direction and avoid overtrading. Since overtrading is the main reason for trading losses, technical forex traders should limit the number of trades. And one should not get carried away by the number of signals, never try to trade all the trading signals of this indicator.
Sane Fx Binary Options Indicator For MT is suitable for forex and binary options trading. However, binary options traders should use the low expiry time of 2 candles, while forex scalpers can use trading signals to check the next 2 candles for a trade. Also, the indicator is free to download and easy to install.
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