Today I have prepared another strategy for you, that works with Meta Trader 4. You will need indicators and a template which you can download here. If you do not know how to use indicators and tempates with MT4, use this guide.
It is important to keep a trading platform open, so the trades are opened as quick as possible. Do not forget to read the comments at the bottom of the page!
Doubles is a simple strategy based on the principle of reocurring tendencies of the direction of price development. In the last few days, I had quite good results with it.
How to setup the chart
- 5-minute timeframe
- DoublesStrategy template
When to choose ↑CALL↑ with expiration date of 10 minutes
- The previous candle closed between the lower green and purple Bollinger curve.
- The past candle did not have the lowest point below the green Bollinger curve.
- MACD chart is pointing upward.
When to choose ↓PUT↓ with expiration date of 10 minutes
- The previous candle closed between the upper green and purple Bollinger curve.
- The past candle did not have the highest point above the green Bollinger curve.
- MACD chart is pointing downward.
What does it look like?
Downloading indicators and templatesDownload here
Binary options brokers recommended for this strategy
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Brokers for the strategy must offer trading options with expiration date of exactly 10 minutes.
Comments on trading
- Enter the trade as soon as possible after the candle, which meets the requirements mentioned above, closes (the time to end of the candle is right next to it)
- For conservative traders: Do not enter trades against the direction of the long-term trend.
- Again, you need to use common sense and, if the market does not look like turning (eg. rapid descent, or fast pitch), do not enter the trade.
- We recommend trading only between 9:00AM to 4:00PM London time
- It is best to trade when the market is stagnating.
- It is again merely a strategy to learn the behavior of the market. Better get an estimate of market direction using technical analysis!