This article is especially for newbies and for new traders in binary options and in trading industry generally. I am going to share with you some very useful indicators which can help you to improve your trading style.

The first indicator is very simple and you can find it in your metatrader platform.

Barry is a simple indicator wich draws support and resistance levels. So, this indicator can help them and learn them where are the supports and resistances levels.

As you can see in the above chart the red lines are resistances and the blue lines are supports. It just draws a support or a resistance as has happened. For overbought and oversold conditions I have two indicators to recommend you. An overbought condition is a condition in which the asset is much higher from the normal levels and maybe we will have a fall. Oversold is the opposite condition. To identify these two conditions you can use a RSI indicator from your metatrader platform or a value chart indicator.

In this chart, which is the previous chart with barry, I installed both of them to my metatrader software. In RSI you can add from the configuration two levels. One for overbought conditions and another one for oversold conditions.

Many traders use for these two situations the level 70 for overbought and the level 30 for oversold.

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You could also use 80 and 20 levels for more safety. As you can see in this chart in the RSI we have overbought at highs and oversold at lows. The value chart indicator does the same job. Green bars are bullish and red bars are bearish. In this indicator you can also gix the levels.

Many traders use 8 and -8 lebels for extra overbought and oversold situations and 6 and -6 for softer situations. A very important indicator for your charts is a news indicator. A news indiacator shows you if there are news for the market or when we will have news releases.

Even if your strategy is not to trade the news you should have an indi like this to know what time there are news and stay away from the market because if you will ignore the news they can destroy your trades. Very useful and effective indicator created by John Bollinger. It helps you to identify Support and Resistances levels. Simple indicator which calculates and shows you the daily Pivot levels of the market.

Harmonic Patterns are an advanced lesson of Technical Analysis and it needs to spend time to learn how to draw them. There are indicators which draw harmonic Patterns automatically like ZUP. Of course they make wrong estimations many times but they can help you to start drawing by yourself. From the most important indicators. I use it every day for many reasons but mainly to identify bounces and retracements. You can find it in your metatrader platform in your drawing tools.

Levels to add are All the others important levels already exist in the default settings.

I wrote an article about moving averages and how to use them. There is nothing standard for the settings as i said many times. I told you the setting I use you can do your backtest and see which settings are the best for your strategy.

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Home Free MetaTrader Brokers Strategy Dont Trust Signals Forex Trading Vs Binary Trading Who Am I? Useful indicators for Newbies This article is especially for newbies and for new traders in binary options and in trading industry generally. Notice how the price makes bounces in the bands.

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