Binary options charts have not always been of high quality when delivered directly from the broker. They are explained in detail below. However, this is changing, especially with CFDs and spread betting brokers entering the binary options market.
Brokers with charts in Korea
Some brokers now offer traders high-quality binary options charts, ETX Capital and IQ Option even offer MetaTrader 4 integration.
Where to get more charts
If you have used any binary options broker platform, or are just a newbie who has had more than one platform looked around, one thing will stand out in a glaring way: the absence of interactive charts. Charts are the mainstay of technical analysis in the binary options market. Without charts, there is no asset analysis of trading opportunities, and without analysis, traders are essentially gambling.
Traders need to know where to access charting tools for trader analysis, as they provide traders with information for informed trading decisions when trading binary options assets. In this article, we will analyze the market and identify where traders can get charting tools to trade profitably.
Chart sources
Chart sources are of two types.
a) Online charts are web-based charts available on the websites of certain brokers and software vendors. These charts don’t usually offer a lot of flexibility in terms of interactivity and the tools you can use with them. We do not recommend using online charts for binary options trading.
b) As the name suggests, downloadable charts can be downloaded as part of a forex trading platform or as a software standalone plugin. Best suited for the purpose of asset analysis for binary options trading. Because it comes with many tools to enhance your analysis results. This is the recommended charting software for binary options analysis.
Some charting sources provide free access to charting tools. Some are free, but some paid plugins need to work, and there are fully packaged plugins that require 100% payment. These chart sources for downloadable forex charts used in binary options analysis include:
aa) FreeBinaryOptionsCharts.com
FreeBinaryOptionsCharts.com has easy-to-use (and free) binary options charts. We also have a great beginner’s guide on how to use binary options charts. Since this is Mifune’s site, the strategy articles are very high quality.
a) Forex Chart Widget v1.7
Developed by Chris Craig and available as a free download from Softpedia, Forex Charts Widget v1.7 is a downloadable charting software that allows users to view charts of multiple pairs of currencies. Users can select a time zone and apply a set of indicators provided with the plugin.
b) MT4 Chart
Perhaps the best source for free charting information and interactive charts is the MetaTrader4 platform.
This platform is available to almost all market maker brokers in the forex market. However, it is worth mentioning because it has a more comprehensive asset base that matches binary options asset indices.
Ideally, you should download the broker’s MT4 platform, which has more than 40 currency pairs, all major stock indices (or at least 8 of them), stocks and spot metals – gold and silver (listed as XAUUSD and XAGUSD respectively). ).
Examples of MT platforms you should use for your charts include those of FXCM, FxPro, Finotec, and Forex.com. Almost everything you need for charting can be found on this platform. The best thing is that it’s all free and you get it when you download the MT4 platform and create a demo account. Another beautiful element in MT4’s favor is that the MQL programming language on which the platform is built supports the build of EAs, indicators and software plugins that support the creation of signals. These signals can then be exported to the MT4 platform. For more info check out our MT4 guide on the forum here or watch this video explaining some tips and tricks on MT4:
c) Interactive Broker Information System (IBIS)
The word “interactive” is all over this broker’s name. Interactive Brokers has one of the most comprehensive charting platforms for technical analysis. The Interactive Broker Information System (IBIS) platform provides institutional level charting capabilities. IBIS’s charting feature boasts 22 configurable technical indicators, alert bars to support alert creation, and traders can use one of three chart types: bar chart, line chart, or candlestick. Packages cost money. Users must subscribe to use it at a cost of $69 per month.
d) My FX Dashboard (from OFX)
This forex charting service by OFX allows traders to conduct line research and use indicators. The software is not downloadable, but it is a Java-enabled web-based application that allows users to switch between basic and advanced charts. This charting software is coded in EasyLanguage, the programming language that powers FXCM’s TradeStation, so it can also be used as a software plugin on FXCM’s flagship trading platform.
e) Multi Chart
Multicharts is a downloadable charting software that offers high definition forex charts for 30 different currency pairs in partnership with TradingView. The chart also has a web-based version. Traders can take advantage of multiple timeframes ranging from 1 minute to 1 month. Developed by MCFX, the MultiChart charting and trading platform is a powerful package with unique ODM chart trading capabilities that allows traders to price down, tag, and use this information to remind traders at the exact price they want to execute a trade. For trades if there is a time delay between signal generation and trade execution
f) Free Stock Chart
said yes Click here for a free stock chart. (Go to “Help” on FreeStockCharts.com and check out the video tutorials, which are very useful for beginners.) On fsc.com, find the Candlestick View, go to the top left corner of the chart, click the price history in green, and click Edit . Then change the “Plot Style” from HLC Bars to Candlestick and click “OK”.
There are many other sources of charting information used to create binary options signals. It’s up to the trader to decide which one to use based on cost, ease of use, and other parameters that suit their tastes.