Sunday, March 23rd, 2014 by Tim Lanoue
The Elder Ray Bear Power indicator was created by Dr. Elder with the main function of determining whether or not the asset that you are watching are exhibiting signs of overbought or oversold market conditions. Having the ability to tell if the assets market conditions that we are watching is a great advantage and is essential when predicting the future direction of that assets price action.
Setting up the Elder Ray Bear Power indicator is a relatively simple task and cannot be overlooked. Many new traders that are just starting out in the binary options industry lack the ability to apply a proper set up to a binary options trading strategy causing them to receive less accurate signals or completely wrong trading signals. When getting ready to apply a proper set up we just need to complete two steps. The first step would be make sure that our targeted asset that we are watching displays a relatively low level of volatility. Meaning that the asset is less prone to change directions in a short amount of time due to minor changes in market conditions. Assets that display a high level of volatility are often harder to predict causing a lower win rate than assets that display a low level of volatility. The last thing we need to make sure of when properly setting up our indicator would be that we stick with a time frame consisting of no less than 15 minutes and no longer than 30 minutes. Any time frames outside this range can severely affect the accuracy of the trading signals generated so that is why we stay in our desired time frames.
Implementing the Elder Ray Bear Power indicator into a binary options trading strategy is simple after we have the right set up established. The signal process for this trading strategy is easy to spot and only requires two steps. The first step would to be to make sure that the Elder Ray Bear Power indicator is below the 0.0000 level line and pushing in a downward direction. The second step would be to make sure that directly above the indicator where a downward occurrence is happening that there is a bearish candle taking place. If there is then we can go ahead and place our put trade, if you want a second confirmation then you can wait for another bearish candle to take place and if there is then we can go ahead and place our put trade.
Understanding and applying the Elder Ray Bear Power indicator is simple and can greatly increase your winning percentage when trading online with binary options. Trading online with binary options is no walk in the park which is why we need every bit of knowledge when attempting to trade the financial markets. If you have any questions or comments please feel free to leave them below. As always stay tuned for more articles to come!