The Logic Day Trading binary options indicator indicates a breakout of local support and resistance levels in the form of short-term price ranges. Usually, after such a breakout, the price continues to move in the direction of the breakout, which is actively used not only by Forex traders, but also binary options traders.
All you need to do is choose the right expiration time for the Call and Put binary options, and this paid indicator will do the rest. The developers are asking $199 for it. In this review, we will try to figure out whether it is worth the money and how it can be used to improve trading results.
Content:
- Characteristics
- Installation
- Overview and settings
- Trading Rules by Logic Day Trading
- Opening a Call Option
- Opening a Put Option
- Specifics of using the indicator for binary options Logic Day Trading
- Conclusion
- Download Logic Day Trading
Characteristics of the indicator for binary options Logic Day Trading
- Terminal: MetaTrader 4
- Timeframe: M5
- Expiration: 3 candles
- Option Types: Call/Put
- Indicators: Logic Day Trading.ex4
- Trading instruments: currency pairs , commodities, cryptocurrencies , stocks
- Trading hours: 8:00-20:00 Moscow time
- Recommended brokers: Quotex , Pocket Option , Alpari , Binarium
Installing the Logic Day Trading Binary Options Indicator
The Logic Day Trading indicator is installed in the MetaTrader 4 platform as standard. To do this, you need to add it to the root folder of the terminal by selecting “File” in MetaTrader 4 and then “Open data directory”. In the opened directory, you need to go to the “MQL4” folder, then to “Indicators” and move all the files there. Templates are installed in a similar way, but are placed in the “templates” folder. You can read the installation instructions in more detail in our video:
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Review and settings of the indicator for binary options Logic Day Trading
The Logic Day Trading binary options indicator generates reliable trading signals with a high probability of profit. This will especially appeal to traders trading on lower timeframes , where noise and unpredictability reign. The Logic Day Trading indicator is designed to solve all these problems.
As you can see in the image above, signals from this indicator occur at the moment of breaking through the price range limited by local support and resistance levels. As a rule, after this, the price begins to move freely in one direction. If the upper limit of the range is broken, we buy the Call option, if the lower limit, we buy the Put option.
In this case, the candlestick on which the signal about the level breakout occurred is marked with an arrow: blue – for Call options, red – for Put. Forex traders can set protective stop orders outside the range, and fix the profit either when the opposite signal occurs, or with the help of a trailing.
At the same time, binary options traders can use different expiration times and timeframes depending on the percentage of profitable trades based on the Logic Day Trading indicator signals on a specific currency pair .
This tool has few settings. The minimum and maximum range parameters, trend filtering and alerts deserve special attention. When trading on timeframes below M30, it is not recommended to enable the trend filter, as this will significantly reduce the number of trading signals.
Rules of trading on the indicator for binary options Logic Day Trading
The Logic Day Trading binary options indicator is similar in appearance to the Donchian channel , named after its creator, professional trader Richard Donchian. Just like the Donchian channel, the Logic Day Trading indicator plots a range based on the highest maximum and the lowest minimum for the period specified in its settings.
Visually, this resembles a rectangle, when the price goes beyond the boundaries of which a signal to buy a Call or Put option appears. After breaking through such a range, the price, as a rule, moves without a rollback in the direction of the breakthrough, which is what traders use.
To improve the results, we recommend using the Logic Day Trading binary options indicator signals in the direction of the main trend, which trend indicators will help you determine. You will learn more about them from a special selection of articles on our website:
- Best Trend Indicators
- PZ Trend Trading indicator
- Trend Lines Indicator for MT4
- Indicator TJ10X Forex Indicator
- Fxaccurate Larna MT4 indicator
An important component of success when trading with this indicator is choosing the right expiration time. We recommend 3-5 candles, but the exact value will depend on the asset being traded and its timeframe.
Opening a Call Option
- We make sure that the upper limit of the range has been broken – the candle has closed above this limit.
- A blue arrow appeared under the last closed candle.
- At the opening of a new candle we buy a Call option.
Opening a Put Option
- We make sure that the lower boundary of the range has been broken – the candle has closed below this boundary.
- A red arrow appeared above the last closed candle.
- At the opening of a new candle we buy a Put option.
It is recommended to select the expiration time of 3 candles. We advise you to select the holding period of positions based on the results of testing on historical data.
Specifics of using the indicator for binary options Logic Day Trading
The Logic Day Trading binary options indicator can be used in different modes, including with a trend filter. When activated, signals for range breakouts will only be received in the direction of the main price trend, which will certainly be appreciated by Forex traders. However, this mode is unlikely to be suitable for binary options trading due to the small number of transactions.
Pros of the Logic Day Trading indicator
The advantages of this indicator include reliable and clearly interpretable trading signals. It is easy to trade with this tool, since all a trader needs is to wait for its signals and follow them. The Logic Day Trading indicator has everything necessary for successful trading: several operating modes, signal and alert settings.
Cons of the Logic Day Trading indicator
The disadvantages include the appearance of false trading signals in a flat . To avoid this, it is recommended to trade on the signals of this indicator during active market hours .
Conclusion
The Logic Day Trading binary options indicator can be a great alternative to Donchian channels. It also generates signals to open positions in the event of a breakthrough of one of the boundaries of the established range, while the trader receives clear instructions to buy a Call or Put option depending on the direction of the breakthrough. This makes this paid indicator a useful tool for those who prefer simplicity in making trading decisions.
Considering the high percentage of profitable trades that can be obtained when trading binary options using its signals, we believe that the price of $199 requested by the developers is quite justified. You can download the Logic Day Trading indicator for informational purposes absolutely free of charge. Before using it on real money, check its work on a demo account with a broker with a minimum deposit , observing the rules of risk and capital management. We wish everyone a favorable trend!
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