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  1. #1
    Legendry Member Michael Hodges's Avatar

    Binary Options Tools - Support/Resistance, Fibonacci and Pivot Point Indicators !!!

    Support and resistance are two of the most useful concepts in binary options. These levels are target price levels where buyers and sellers can be expected to enter the market. The problem with support and resistance is that all too often they can be subjective, where to draw them, why to draw them there and what to expect when prices reach those levels are questions that can be answered in many ways. With time, pinpointing these levels on your own can become very easy but even before that there are tools to help.

    The good news is that no matter what your experience level they can be used effectively, and there are a plethora of tools intended to help traders of all levels. Two of these are Fibonacci Retracements and pivot points which derive target levels for support and resistance that can be applied to just about any strategy in use today.

    This thread is dedicated to all of those tools and will include links to our articles and forums where more information can be found.

    First up is the support and resistance tool, which projects potential S/R based on recent price action.

    Support and Resistance Tool

    I've mentioned Fibonacci, what I didn't mention is that there are at least a dozen tools which use the concepts of Fibonacci to project S/R levels. The first one I'll introduce is the QuickFib tool, which creates retracement levels based on recent price action.

    QuickFib Tool

  2. #2
    Legendry Member Michael Hodges's Avatar
    These are links to Bogdan's article on Fibonacci Tool For Support And Resistance and it's discussion in the forum.

    The Fibonacci Tool - In the forum

    The Fibonacci Tool Full Review

    Two things. First, I absolutely love Fibonacci and his tool. It is one of the most versatile and useful tools in trading and has an uncanny, I say again uncanny, ability for uncovering significant price levels and target areas for signals to appear. Second, I agree with Bogdan when he says the tool is highly subjective and needs to be used with other tools to confirm. I encourage newbies to try it out and experiment, you more advanced traders will find it a valuable addition to your arsenal.

    What it is is a tool that breaks down a rally or sell-off using the Golden Ratio, a numerical phenomenon found throughout nature. It describes the relationships of just about everything you see... the length of your arm relative to your torso, the number of petals in a flower, and the width of a trees trunk to its height. This may not sound like is has anything to do with the markets until you consider the fact that the market is a living breathing organism and that it's movements can be measured in the exact same ways.

  3. #3
    Legendry Member Okane's Avatar

    Pivot Points and Pivot Calculator - How to use them! !!!

    When I started trading binary options, I soon realized
    that I needed well-placed S/R lines in order to
    know when to enter my trades. Then I learned about the
    a Fibopiv calculator that automatically drew them for me.
    It was a good start and soon I could manually draw equally good
    lines on my own. In time, I could do it even better.

    I recommend you learn what Pivot points are because they will help you
    draw accurate support and resistance lines that will improve your trading.

    Check this thread out:
    Pivot Points and Pivot Calculator
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  4. #4
    Legendry Member willyw's Avatar
    Quote Originally Posted by Okane View Post
    When I started trading binary options, I soon realized
    that I needed well-placed S/R lines in order to
    know when to enter my trades. Then I learned about the
    a Fibopiv calculator that automatically drew them for me.
    It was a good start and soon I could manually draw equally good
    lines on my own. In time, I could do it even better.

    I recommend you learn what Pivot points are because they will help you
    draw accurate support and resistance lines that will improve your trading.

    Check this thread out:
    Pivot Points and Pivot Calculator
    Pivot points and fibo is a good combination.

  5. Thanks Okane thanked this post
  6. #5
    Legendry Member Okane's Avatar

    The Retracement Finder Tool !!!

    Click here to discuss and ask questions about the retracement finder.

    Is this one a retracement? Or that one? hmm... if only
    there was a better way to find out!
    There is! It's called the retracement finder. It's an indicator for MetaTrader.
    If you like to trade in the direction of the trend, then you need good entries at the
    confirmed retracements. This tool will help you find those areas. Give it a try!
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  7. #6
    Legendry Member Michael Hodges's Avatar

    Support And Resistance For Binary Options - What It Is Where To Find It How To Trade !!!

    There are lots of indicators to help you find support and resistance levels and 10X as many discussions about how to use them. Few of them really get down and talk about what makes support support, and resistance resistance. This article is my thoughts on the subject, a deeper look into the subject. The thing for everyone to remember and something I hit on this review is that support and resistance are highly subjective. There are lots of ways to draw the lines, lots of levels that could be support or resistance, and every one is valid. The trick is to find the strongest levels, the levels where the truly significant market moves begin and end.

    Support And Resistance For Binary Options - Article

    Support And Resistance Forum Discussion

  8. #7
    Active Member Ferdy280314's Avatar
    Hey traders! 😎
    I would like to ask you about pivotlines(dynamic trendlines drawn connecting pivot points - swing low connected with a swing low and swing high connected with a swing high). I started using them and they seem a very reliable indicator! What do you think about them?

  9. #8
    Legendry Member Okane's Avatar
    Pivots are good and any indicator is as good as the trader using it.

    I used to work with Fibopiv, an indicator that drew 3 support and 3 resistance lines plus a pivot level. The
    pivot S/R line was usually pretty accurate but of course, sometimes price would cut through by lots of pips.

    It's good if you can show us a picture of it and how you indent to use it instead. Saying it's good or bad will probably
    not help you that much
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  10. #9
    Active Member Ferdy280314's Avatar
    Quote Originally Posted by Okane View Post
    Pivots are good and any indicator is as good as the trader using it.

    I used to work with Fibopiv, an indicator that drew 3 support and 3 resistance lines plus a pivot level. The
    pivot S/R line was usually pretty accurate but of course, sometimes price would cut through by lots of pips.

    It's good if you can show us a picture of it and how you indent to use it instead. Saying it's good or bad will probably
    not help you that much
    I meant pivotlines, these ones: http://prntscr.com/gq42ou
    I would use them as dynamic supports and resistances :-)

  11. #10
    Legendry Member Okane's Avatar
    Quote Originally Posted by Ferdy280314 View Post
    I meant pivotlines, these ones: http://prntscr.com/gq42ou
    I would use them as dynamic supports and resistances :-)
    Those look like trendlines to me.
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