Meta Trader, the world’s leading trading software, is also the best tool to trade binary options. If your strategy involves using technical indicators, Meta Trader offers a few great features that will make you become an even more successful trader.
Advantages of using technical indicators with Meta Trader
There are a number of reasons why you should use technical indicators with Meta Trader:
1) You can use every indicator imaginable
Meta Trader comes with a wealth of built in indicators, such as moving average, the average true range, bollinger bands, and many, many more. After set up, Meta Trader already provides you with more than 50 different technical indicators. All of them are conveniently sorted into groups such as “trend” or “oscillator” that let you know what indicators do on first sight. This abundance of indicators is far beyond what websites and other chart software will provide you with.
Still, if you want to use a rare indicator, it might not be integrated in Meta Trader. In this case, simply search one of the many active internet communities surrounding Meta Trader. In these communities, people share all kinds of trading tools for free. There, you are sure to find even the rarest indicators. Download it, and copy it into your Meta Trader’s folder – and you can start using it immediately.
Even if you want to create your own indicator, Meta Trader offers a tool for you. By using Meta Trader’s editor, you can create any indicator you want within minutes.
Compared to most websites and charting software, which at best support only a handful of technical indicators, Meta Trader’s endless possibilities to integrate any kind of indicator does gives you the freedom to trade any trading strategy you want.
2) You can adjust every indicator to your preference
For every indicator, Meta Trader allows you to control its settings entirely up to your preferences. You can adjust the number of periods used, switch between different calculation modes, and so on. You can also adjust the way the indicator is displayed in your chart. Meta Trader allows you more flexibility than any website and most other expensive charting software.
3) You can combine indicators in any way you like
With Meta Trader, you can use any indicator with any other indicator. That means there are no limits to what your strategy can be. If you can think of a strategy – Meta Trader can put it into action.
4) You can use indicators to create signals
Meta Trader can not only display technical indicators. It also allows you to define rules for when these indicators create signals. If you want to trade [moving average crossovers] or an [oscillator] reaching an extreme value – Meta Trader can alert you as soon as the event is happening. This saves you a lot of time monitoring charts and makes sure you never miss a signal.
5) You can use indicators for auto trading
For some traders, creating signals is not enough. They want these signals to be traded automatically. Meta Trader can do exactly that. Once you defined rules for when a signal is created, Meta Trader can automatically translate the signal into a trading decision.
Using Meta Trader with binary options
Unfortunately, Meta Trader has no built-in support for binary options. To use Meta Trader with binary options you need a provider that connects your Meta Trader to your account with a binary option broker. Fortunately, these providers are plenty. Almost all of them come for a one-time fee of well below $100, and have money back guarantees for 60 days. Therefore, using Meta Traders with binary options is easy and risk-free.