Would you like to have a stable revenue with binary Options? Then it is essential to analyse the rate of an asset. From now on you can analyse all market prices of all our assets with the help of the Advanced Chart. The Advanced Chart gives you the opportunity to perform technical analyses and add technical indicators to the chart. This way you can quickly see if you should place a put or call binary option on a well-founded basis.
What is an Advanced Chart?
The Advanced Chart is a Tradingview visualization of our data feed. Tradingview.com is primarily a website that provides financial data providers with the opportunity to visualize their data in a chart and make them online available. Secondly, it is also a very popular website for starting and professional traders, because they can analyse asset price development with almost all conceivable technical indicators, and add technical indicators to it. Besides that, Tradingview users can publish their trading ideas online and get responses from other traders. So Tradingview.com is a very comprehensive platform for analysing asset prices. The Advanced Chart allows you to take full advantage of the best analysis opportunities offered by Tradingview.
Where can I find the Advanced Chart?
You can find the button for opening the Advanced Chart in the top left corner of each graph.
Once the button is pressed, the Advanced Chart will be opened in a separate screen.
What are the Functions of the Advanced Chart?
The most important Features that you can perform with the Advanced Chart – and not with the chart of the Trade room – are the addition of Technical Indictors and the drawing of support and resistance lines. With these features, you can analyse the asset’s price development accurately and determine the right moment to enter your call or put option.
In the image above the Asset, Time Interval, Technical Indicators and Lines, Patterns, Text, SL / TP Levels are highlighted, as these are the most commonly used functions of the Advanced Chart.
First of all, it is important that the correct asset is analysed. The name of the asset is shown in the top left of the screen. In this same field, you can also search for other assets by simply typing or searching the asset in the list.
The time interval shown is very important for analyzing the price development. The Advanced Chart is opened by default with a 1 minute time interval. By clicking on the 1 (1 minute) you can choose from all available time intervals: 1 min, 2 min, 15 min, 30 min, 1 hour, 4 hours, 1 day.
To perform good technical analyzes, you are required to use Technical Indicators. By clicking on the Technical Indicator symbol, the list of all available indicators will appear. The most commonly used technical indicators are the Relative Strength Index (RSI), Stochastic RSI, MACD and Bollinger Bands.
Lines, patterns, text and SL/TP
You can draw lines, patterns, text and SL/TP levels in the graph. For example, drawing support and resistance lines may be very useful to determine the purchase moment of the option. Test it yourself and experience the benefits of using support and resistance lines.
Other Features (Compare, Chart properties)
Another useful feature of the Advanced Chart is to compare the prices of different assets. You do this by pressing the scale symbol and entering another asset. Then the rate developments of the two assets will be displayed relatively (in percentages with the basis of the beginning of the given period). For example, it is possible to compare the oil price (Crude or Brent) with the price of an oil producer such as BP or Gold with the EUR/USD. By comparing assets and following this, you can discover patterns and possibly conclude if the price of one asset rises, the other increases or just the opposite, when the price of one asset rises, the other decreases (in the case of competitors).
Besides that, it is also possible to display the chart in a different way. By default the chart is displayed as Candle, but this can be changed to Bar, Hallow Candles, Line, Area, Heikin Ashi. If you prefer a different chart, change it. You can also adjust the color, x and y axis, scale and time zone of the graph by pressing the gear symbol. The “Chart Properties” is opened and you can customize many chart items.
The Advanced Chart is a very good tool to reduce your financial risk, as you can trade binary options in a calculated way. Do you have questions about using the Advanced Chart? Do not hesitate to contact your account manager.