Learn How To Use Binary Options Charts

Here we offer free binary options charts of high quality, which will likely aid you in your trading decisions far more than the extremely simple charts provided by most binary options brokers. Since using these types of more in depth charts may be new to you, here is a brief guide on how to get the most out of our free binary options charts.

Basics

Binary options derive their value from an underlying asset. Therefore you don’t need to use your binary options broker’s trading platform to analyze charts of that underlying asset. You can analyze the underlying asset directly–with more customizability and more trading tools–utilizing the charts on this site. If you are trading binary options in the EUR/USD, you’ll want to pull up a chart of the EUR/USD and use the tools available on our site to make better trading decisions. If you are trading a stock binary option, input the stock symbol to see how the stock is moving now and how it has moved in the past.

Pick Your Asset

Input the asset (either name or symbol) you are trading into the box on the upper left.

fig 1 symbol box

Source: Free Binary Options Charts

As you start typing a dropdown list appears making it very easy to find the asset you are looking for.

Pick Your Time Frame

Next to the symbol box is a drop down menu. By default this setting is “Daily”.¬† This will show the daily price history of your asset. Each bar you see represents one day, and therefore it is a good time frame to see the overall price direction of an asset’s price.

For day trading purposes, or trading short-term binary options, you’ll also want to see how the asset’s price has performed over a short-term timeframe. By selecting a shorter time frame, such as a 1 minute, 5 minute or 15 minute chart, you are zooming to see how the price is performing right now.

fig 2 time frame

Source: Free Binary Options Chart

If you select “5 Minute” then each bar on the chart will reflect 5 minutes of price data.

Compare Tool

The Compare tool is great for if you want to see two or more assets side by side. By seeing the price charts of multiple assets side by side you can potentially determine which ones are relatively weak and which ones are relatively strong; this can help you determine which assets you wish to buy puts or calls in.

After clicking “Compare,” input symbols you want to compare to the asset already on the chart.

Here is a daily chart of the EUR/USD and I have compared it to the GBP/USD (blue line).

fig 3 compare

Source: FreeBinaryOptionsCharts.com

The scale along the right is a percentage, not a dollar amount, since the assets are different prices. The percentage scale allows you to see which asset(s) is stronger or weaker in terms of percentage movements.

If you don’t like the percentage scale, you can turn it off by deselecting the “Show Percentage Scale” in the Compare tool.

To quit comparing, go back into Compare and deselect (uncheck) or delete the assets from your compare list.

Technical Indicators

Free Binary Options Charts offers you over 60 indicators to choose from. Simply click on “Technical Indicators” and a drop down list will appea

fig 4 indicators

Source: Free Live Binary Charts

Pick your indicator, and it will be applied to your chart. Each indicator is customizable and in many cases can be applied to the price history or another indicator. Usually, you’ll want to add the indicator to the price history, so when you pick an indicator and it asks you where you want to apply it, choose “Price History”.

All the indicators you have added will show along the bottom of the price chart, or on the price data. To customize the indicator click on the little arrow next to indicator name and choose “Edit.”

fig 5 customize indicators

Source: Binary Option Trading Charts

Zoom in and Out

One of the great features of Free Binary Options Charts is how easy it is to zoom in and out, seeing longer-term or short-term trends.

Quickly zoom in and out on the time frame you watching by pulling the grey sliders at the very bottom of the chart to the right or left respectively. You can even go back in time and zoom in on a specific day in the past using these sliders.

You can also quickly change your overall time frame by clicking on one of the grey bottoms at the bottom, such as 1Y (1 year), YTD (year-to-date), 6M (6 month) or 1D (1 day)

Settings

Finally, you can customize the overall setting of free binary options charts by selecting “Chart” on the upper right. Most of these settings you don’t need to worry about too much, except for the first setting which you may want to change based on personal preferences.

By default the “Price Style” is set to Candlestick. Candlestick charts are the preferred type of chart for many traders. If you prefer a different type of chart you can also select Line, OHLC (OpenHighLowClose) Bar, HLC (HighLowClose) Bar, or Bar. All these types of charts show the price history, but in different visual ways and some contain more information than others. For example, candlestick charts show much more detail price information than a line chart.

figure 6 settings

 Source: Binary Options Charts

You can also change the background color on the chart by picking a different “Back Color.”

Free Binary Options Charts

Enjoy the customizability and extensive tools available on freebinaryoptionscharts.com, as well as the articles we provide on charting analysis and chart-based trading strategies. If you have questions about how to use the charts, leave a comment below.

VN:F [1.9.22_1171]
Rating: 2.9/5 (127 votes cast)
How to Use FreeBinaryOptionsCharts.com, 2.9 out of 5 based on 127 ratings

Leave a Reply

You must be logged in to post a comment.