How to Add Indicators on Pocket Option: Maximizing Your Trading Potential
When it comes to trading on Pocket Option, knowing how to add indicators effectively can make a significant difference in your success rate. Many traders, especially beginners, struggle with this crucial aspect.
Overview of Indicators on the Pocket Option Platform
The Pocket Option platform provides traders with a wide range of technical analysis tools, including many indicators that help predict price movements and identify prevailing market trends. In this review, we will explain how to use indicators on the platform, what settings are available, and how they can enhance your trading strategies.
What Are Indicators?
Indicators are mathematically calculated tools of technical analysis that help traders predict price movements and determine current market trends. By using various indicators, you can gain valuable insights that can help make informed trading decisions.
Optimize Your Trades with Indicators on Pocket Option!
How to Add Indicators on Pocket Option?
To use indicators on Pocket Option, you need to follow a few simple steps:
- Go to the Indicators section, located in the upper left part of the trading interface, next to the asset selector.
- Choose the indicator you want to add, and it will be applied to the chart immediately.
- To add an indicator to your Favorites, click on the star next to its name.
Indicator Settings
Each indicator has its own settings, such as the period, type, line thickness, color, and other parameters.
To configure an indicator, you need to:
- Click on the pen icon next to the indicator's name.
- Adjust the settings, including the period, line thickness, and color according to your preferences.
These settings allow you to customize the indicators to match your trading style and timeframes, which can significantly improve the effectiveness of your trades.
Removing Indicators
If you need to remove an indicator from the chart, you can do so in several ways:
- Open the indicator panel in the upper part of the interface, go to the Current tab, and click on the trash bin icon next to the specific indicator.
- You can also click on Delete All to remove all indicators from the chart.
Additionally, you can use the X button next to each indicator in the platform interface to remove it.
Indicator Limitations
On the Pocket Option platform, you can use up to 30 indicators across all charts. If you reach this limit, you will need to remove one or more indicators to add a new one.
How to Set Indicators for Different Timeframes?
One of the key aspects of using indicators on Pocket Option effectively is configuring their parameters based on the selected timeframe. Below are the recommended settings for popular indicators depending on the timeframe:
| Timeframe | Moving Average Period | RSI Period | MACD Settings |
|---|---|---|---|
| 5-minute | 10, 20 | 7 | 5, 13, 3 |
| 15-minute | 20, 50 | 14 | 12, 26, 9 |
| 1-hour | 50, 100 | 14 | 12, 26, 9 |
| 4-hour | 50, 200 | 21 | 12, 26, 9 |
These parameters serve as a starting point. Depending on your trading style and the assets you are working with, you may need to adjust these values.
Indicators in the Settings Menu
In addition to the standard technical analysis indicators, the Pocket Option platform has an Indicators menu in the settings, which provides access to various visual chart representation features. These functions should not be confused with technical analysis indicators, but they can also be useful for improving chart readability.
To enable a specific visual feature on the chart, follow these steps:
- Click on the avatar in the upper part of the interface.
- Go to Settings and select the Indicators menu.
- Enable the necessary display features.
This will allow you to adjust the appearance of the chart to your preferences and make the analysis more convenient.
Conclusion
Indicators on the Pocket Option platform are powerful tools for technical analysis that help traders make more accurate predictions and informed trading decisions. The platform offers many options for customizing indicators to suit individual needs and trading strategies. Using these indicators in combination with proper chart settings and visual functions can significantly improve your chances of successful trading.