Benefits of Using a Live Chart for Binary Options

Benefits of using a live chart for binary options

With the help of this chart, the trader is given the opportunity to receive the latest information from the market.

In most cases, the use of a chart when trading binary options allows a trader to close his position with a positive trend in case of a sharp change in the market situation.

According to many experts, a good set of tools and fast processing of incoming information allows traders to get higher profits through the use of a live chart.

What is a live chart for?

A live chart for binary options allows you to track changing price quotes in real time online.

To use the service - open live chart and the page will display a window with data on changes in the value of various assets (stocks, currencies and precious metals).

The indisputable advantage of such a chart is the high accuracy (5 decimal places) with which the quotation of certain positions is determined. On the page that opens, you can see a combination of the dollar-euro currency pair.

The vast majority of traders set up charts for (Japanese candlesticks), which are very popular due to their informativeness, which makes it possible to effectively analyze the financial market conditions.

Alternatively, you can also use:

  • Live Heiken-Ashi charts
  • Line charts
  • "Mountain" charts
  • Tic Tac Toe

The next step is the selection of assets for trading. Capital letters are entered in a special window, and the search engine offers possible options to choose from.

By using a live chart for binary options trading, you significantly increase your own productivity of all trading tactics in general.

Instructions for working with a live chart

Pair choice. Enter the character of the desired pair in the menu window:

pair selection in live chart

TF selection. In the timeframe selection menu, you can highlight the necessary ones with an asterisk so that they are always in sight and at the right time you can immediately go to the required time interval:

choosing a timeframe on a live chart

Indicator selection. The live chart is equipped with a high-quality set of built-in indicators that you can open and click on the one you need to apply it to the chart:

selection of indicators in a live chart

Setting indicators. The added indicators can always be configured at will or based on your own strategy, if its rules differ from the standard settings:

setting up indicators for a live chart

Graph mode selection. The price charting mode allows the following modifications: bars, candlesticks, empty candles, heikin ashi, line, area, renko, line break, kagi and tic-tac-toe:

graphical display of prices on a live chart

Tech tools. analysis. The live chart is equipped with various useful tools, namely: you can draw support and resistance levels, channels, fibonacci levels, build figures and even write text directly on the chart! Well, etc.

useful tools in live graphics

Here is a complete list of all the tools that live charts contain (click on the image to see the full size):

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