Live Binary Options Chart
Binary options charts are not always of the highest quality when sent directly from a broker – as discussed in more detail below. However, that is changing, especially with established CFDs and betting brokers entering the binary options market.
Brokers with Charts in Malaysia
Some brokers now offer high-quality binary options charts for traders, and ETX Capital and IQ Options also offer MetaTrader 4 integration.
Where to get more charts
If you have used any binary options broker platform , or you are just a beginner who has seen about one or two platforms, one thing will stand out in the cheerful mind: the absence of interactive charts. Charts are the core of technical analysis in the binary options market. Without charts, there would be no asset analysis for trading opportunities, and without analysis, traders would essentially be gambling.
It is important for traders to know where to access charting tools for trade analysis, as this will provide traders with informed trading decisions when trading binary options assets. In this section, we will identify several places where traders can find charting tools to analyze the market and trade profitably.
Charts Explained:
Chart resources are of two types:
a) Online charts are web-based charts available on the websites of certain brokers and software vendors. These charts generally don’t offer much flexibility in terms of interactivity and the tools that can be used with them. For binary options trading purposes, it is not recommended to use online charts.
b) Latest charts as the name suggests, can be downloaded either as part of the forex trading platform or as a software plug-in. They are the best for the purpose of asset analysis for binary options trading because they come along with many tools that add to the analysis results. They are the recommended charting software for binary options analysis.
Some charting resources will provide free access to charting tools. There are some that are free but will require some paid plug-ins to work, and there will be some that come in complete packages that are 100% paid. Some chart resources for downloadable forex charts used for binary options analysis are as follows:
aa) FreeBinaryOptionsCharts.com
FreeBinaryOptionsCharts.com has easy-to-use (and free) binary options charts. They also have a great guide for beginners on how to use binary options charts. This is Mifune’s website and the quality of the strategy articles is very high.
a) Forex Charts Widget v1.7
Developed by Chris Craig and available for free download from Softpedia, Forex Charts Widget v1.7 is a downloadable chart software that allows users to view currency charts for multiple pairs. Users will have the ability to choose a time period and use the set of indicators that come 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 from almost every market maker broker in the forex market there is. However, there are some valuable mentions due to the fact that they have a more comprehensive asset base that matches the binary options asset index.
You should download the MT4 platform of a broker that has more than 40 currency pairs, all major stock indices (or at least 8 of them), stocks and spot metals (gold and silver, sometimes listed as XAUUSD and XAGUSD respectively).
Examples of MT platforms you should use for your charts are from FXCM, FxPro, Finotec and Forex.com. Almost everything you need to create charts is available on this platform. The best part is that it’s all free and available when you download the MT4 platform and create a demo account. Another wonderful factor that works in MT4 support is that the MQL programming language that the platform is built on supports the construction of EAs, indicators and software plugins that help signal generation. These signals are then exported to the MT4 platform. Check out our MT4 guide on the forum for more information here or watch this video that explains some tips and tricks for MT4:
c) Interactive Broker Information System (IBIS)
The word “interactive” in the name of this broker says it all. Interactive Brokers has one of the most comprehensive charting platforms for technical analysis. The Interactive Brokers Information System (IBIS) platform provides institutional chart level facilities. The charting facility in Ibis boasts 22 configurable technical indicators, alert sticks that support alert creation, and allow traders to use any of three chart types (bar charts, line charts or candlesticks). This package comes at a cost though. Users have to subscribe to its use at a price of $69 per month.
d) My FX Dashboard (from OFX)
This forex charting service from OFX allows traders to conduct line studies, usage indicators, etc. This software is not downloadable, but is a Java-based application that allows users to switch between basic and advanced charts. This charting software is coded with EasyLanguage, which is the programming language that powers FXCM’s TradeStation, so you can also use it as a plug-in software on FXCM’s main trading platform.
e) MultiCharts
Multicharts is a downloadable charting software that provides high definition forex charts on 30 different currency pairs in partnership with TradingView. The chart also has a web-based version. Traders can use several time frames that last from one minute to one month. Developed by MCFX, the MultiChart charting and trading platform is a powerful package that even has a unique ODM chart trading feature that zeroes in on the exact price the trader wants to trade, tags it and uses this information to remind the trader about the trade if there is a lag in time between signal generation and trade execution.
f) Free Stock Charts
Nuff said. Click here for a free stock chart. (Go to “Help” on FreeStockCharts.com and watch the video tutorial, very helpful for beginners.) Find the Candlestick view on fsc.com, go to the top left of the chart and click on Price History in green then click Edit, then change the “Plot Style” from the HLC Bar to the Candlestick and click “OK.”
There are many other sources of chart information to use in generating binary options signals. It is up to the dealer to decide who to use based on cost, ease of use and other parameters tailored to taste.