The Golden Trend binary options indicator, a member of the "arrow" family, will provide you with high-quality signals not only for active scalping on the minute timeframe but also reliable entry points for extended expiration periods . Its unique ability to adjust signal frequency with a single parameter will surely appeal to traders who don't like waiting long periods to execute a trade. Read our review to learn how to properly configure the Golden Trend indicator for binary options trading.
Content:
- Characteristics
- Installation
- Overview and settings
- Golden Trend Trading Rules
- Opening a Call Option
- Opening a Put Option
- Conclusion
- Download Golden Trend
Characteristics of the Golden Trend Binary Options Indicator
- Terminal: MetaTrader 4
- Timeframe: M5
- Expiration: 3 candles
- Option Types: Call/Put
- Indicators: Golden Trend.ex4
- Trading instruments: currency pairs , commodities, cryptocurrencies , stocks
- Trading hours: 7:00-19:00 (GMT+2)
- Recommended brokers: Quotex , Pocket Option , Alpari , Binarium
Installing the Golden Trend Binary Options Indicator
The Golden Trend indicator is installed on the MetaTrader 4 platform using the standard method. To do this, add the indicator to the terminal's root folder: open the "File" menu in MetaTrader 4 and select "Open Data Folder." In the window that opens, navigate to the "MQL4" → "Indicators" folder and move all files there. Templates are installed similarly, but they should be placed in the "templates" folder. For more information on installation, watch our video:
Golden Trend Binary Options Indicator Review and Settings
The Golden Trend indicator for binary options is an interesting solution for trend forecasting. While there are many similar tools, Golden Trend stands out for its high accuracy and ease of use in real trading. It generates trading signals in the form of two arrows: a large one and a small one. Each arrow has its own purpose and application.
According to the developers, the indicator's large arrow signals are best used for trading currency pairs on the M5 and M15 timeframes, while M1 or M5 are optimal for cryptocurrencies and gold. The small arrow is suitable for trading on the M30, H1, and H4 timeframes. Therefore, if you're a short-term trader, focus on the large arrow signals, while for medium-term trading, watch for the small arrow.
Typically, arrow indicators don't have many settings, and Golden Trend is no exception.
All settings of the Golden Trend indicator for binary options are divided into primary and secondary. Primary settings include the calculation period, display of take-profit levels for the Forex market , and the size and color of the arrows. The remaining settings concern additional functions that simplify the indicator's operation but do not affect its signals.
Please note: the shorter the indicator's calculation period, the more signals it generates. In practice, we've found that leaving this value at 4 is best. However, if the indicator shows few trades on your assets, you can always decrease it to increase the number of trades.
Of additional interest is the indicator's information panel, which displays the ticker, spread, and direction of the current trend.
Trading Rules for the Golden Trend Binary Options Indicator
As mentioned earlier, the Golden Trend indicator for binary options is a good solution for traders who prefer trend-following strategies. As its name suggests, it performs best when trading gold. However, our extensive testing has also confirmed its effectiveness on the USD/JPY and EUR/AUD currency pairs, as well as the BTC/USD cryptocurrency.
Of the two use cases described in the previous section, we'll focus on big arrow trading signals. Since most binary options traders prefer short expiration times, these signals are the most popular.
If you're currently struggling with trading on lower timeframes due to psychological difficulties or a lack of discipline, we recommend checking out this collection of articles on our website.
- Capital management. Money management principles.
- How to keep losses under control? Risk management.
- Psychology and trading discipline.
- Trader's diary as a tool for debugging trading strategies.
Technical indicators, which we discussed in detail in the article " The Best Trend Indicators for Binary Options, " can be used as additional trend filters. However, in our opinion, the Golden Trend indicator requires no additional filtering—its signals can be used immediately after installation.
Opening a Call Option
- We wait for the large green arrow to appear on the M1 timeframe for XAUUSD.
- At the opening of a new candle, we buy a Call option.
Opening a Put Option
- We are waiting for the appearance of a large red arrow on the M1 timeframe for XAUUSD.
- At the opening of a new candle, we buy a Put option.
We recommend choosing an expiration time of 3 candles. We recommend choosing the holding period based on historical data testing results.
Specifics of Using the Golden Trend Binary Options Indicator
The Golden Trend binary options indicator has proven effective for assets whose prices are prone to long-term trends. These include currency pairs and indices, as well as gold and cryptocurrencies. Choosing the right instrument and timeframe will help you avoid a large number of false trading signals. Therefore, we recommend paying attention to this.
You can use the built-in dashboard as an additional filter. In this case, you should open Call options only when the dashboard message confirms a bullish trend, and vice versa – Put options if the dashboard indicates a bearish trend.
If the "No Trend" message appears on the panel, you shouldn't trade. In this case, it's recommended to change the timeframe or select a different analysis tool.
Advantages of the Golden Trend Indicator
The advantages of this indicator include precise signals for opening positions. Furthermore, the arrows do not redraw or disappear when historical data for the financial instrument being analyzed is updated.
Golden Trend can be used for both scalping and trading on an hourly timeframe with a long expiration period. For Forex traders, the indicator provides seven take-profit levels for each trading signal.
It is also possible to customize warning messages and transaction frequency.
Disadvantages of the Golden Trend Indicator
The indicator's drawbacks include a decrease in the number of trades in weak markets without a clear trend. This is often the reason for false Golden Trend signals.
Conclusion
Externally, the Golden Trend binary options indicator is not much different from many of its "arrow-based" counterparts, but there are some differences. The most important of these is the availability of two types of trade opening signals, allowing the indicator to be effectively used for both active intraday trading and medium-term trades on higher timeframes.
Advanced trade frequency adjustments provide experienced traders with more options to customize their trading strategies, while built-in filtering via notifications on the dashboard makes Golden Trend a convenient tool for binary options trading. Open a demo account with a reliable broker and see for yourself. Be mindful of risk and money management . We wish you successful trading!
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