10 Best Indicators For Day Trading in Olymp Trade

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Are you struggling to make profits in Olymp Trade? Have you considered using trading indicators to pick trading directions and to possibly increase your chances of winning?

Well, if you haven’t then try making trend indicators a priority in 2020 to maximize your chances of winning.

It doesn’t matter if you are a swing trader or a day trader. What’s important is that you be able to make substantial profits at the end of your trading day.

Olymp trade has such indicators which you can either use to check market volatility or to pick trending directions.

In this post, we only discuss 10 of the best indicators in Olymp Trade beginning with: –

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1. Parabolic SAR.

The Parabolic SAR is an indicator that follows the trend and determines the reversal point in the price channel. SAR literally means “stop and reverse.”

If you activate this indicator on your chart, you will see purple dots forming both on top and below your chart.

Follow the image illustrations below to activate this indicator on your Olymp Trade mobile app: –

Step 1.

If your chart isn’t already a Japanese candlestick, change that by clicking on the chart symbol on the right then choosing Japanese candlestick as illustrated below.

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How to change Olymp Trade charts

Step 2.

Now click on the A sign just next to the charts and choose the Parabolic SAR indicator.

Setting Parabolic SAR in Olymp Trade

Step 3.

You will see a series of dots either above or below your chart. This means you have successfully plotted the Parabolic SAR indicator.

How to set the parabolic SAR

It is best to use the indicator as it is to get accurate results. However, you can still change the color of the indicators and the periods for analysis on the desktop version.

  1. If you increase the periods you will get more signals but most of them will not be accurate.
  2. If you decrease the period, you will get fewer signals but most of them will be accurate.
Key Takeaway Point: – The Parabolic SAR only gives accurate signals if the market trend is strong.

Also, Read – Parabolic SAR | The Easiest Way to Pick Trading Direction in Olymp Trade.

2. Olymp Trade SMA Strategy.

What is SMA?

SMA trend indicator is a trend tool used by traders and market analysts to pick trend consistencies in charts.

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In fact, the SMA is the most popular tool among fixed-time traders from across the world.

When used well the tool will obviously show you a new trend and when it will end. You can then take advantage of the market and make money while it trends.

This is how to set SMA on your chart.

Step 1.

Login to your Olymp Trade account then click on the indicator button as shown in the image below. Done that?

Now choose SMA. The SMA line will appear on your chat. Seen it?

How to set the SMA indicator

Step 2 – Edit The SMA Line.

Now that you have the SMA line on your chart, you might want to change the color and to adjust it to pick more signals.

  1. Locate and click on the pencil (edit icon) to edit your SMA tool.

If you just want to analyze the chart and see what’s happened in the past 15 minutes, set the periods from 5 to 10. Otherwise, set it between 10 and 20 for a medium-term analysis.

Here’s how to do it.

How to Set the SMA line

How to Read SMA Signals.

You can either use the SMA independently or combine it with other indicators.

When using it independently, keep this point in mind: –

  1. There is the likelihood that prices will continue to rise if your chart crosses the SMA from below.

SMA trend indicators

2. On the flip side, prices will continue to fall if your chart crosses the SMA line from above.

SMA Trend Indicators - Olymp Trade

Descending trend.

3. Sentiments Trend Indicator.

The sentiment, also known as traders’ choice is a trend indicator that shows the ratio of all open trades for a selected asset at a given time.

Choices are differentiated with two bars. Red and green.

The red segment of the indicator line shows what percentage of traders are opening DOWN trades. On the other hand, the green bar shows the percentage for UP trades.

Setting Sentiment Indicator in Olymp Trade.

Unlike all the other indicators, traders’ choice does not require any further setting. You just need to activate it as shown in the image below and you are good to go.

How to set sentiments

4. Bollinger Bands Trend Indicator.

This indicator identifies trend directions. It is also useful in pointing out when trend reversals are most likely to happen.

The basic principle for trading with this indicator is therefore to trade on a trend reversal.

Note, Bollinger bands have three lines – two on the outside and one in the middle.

The centerline moving over the chart demonstrates the direction of the trend.

The remaining lines (upper and lower lines) form the price corridor. When the chart goes outside the corridor, this is a signal to open a trade.

If your chart intersects with the lower line then this is a signal that the trend might reverse in the very near future and take an upward trend.

Bollinger bands rising

When the chart crosses the upper Bollinger line, it likely signals a fall.

Reading Bollinger bands

How to Set Bollinger Bands in Olymp Trade.

Olymp trade recommends that you do not change the standard period and deviation settings of this indicator if you want maximum results.

However, you can change the color of the bands and the thickness if you want.

Trading Tip: – The Japanese candlesticks chart with a time frame of 5 or 15 minutes is the best for trading with this indicator.

How to set Bollinger bands indicator in Olymp Trade

5. Exponential Moving Average (EMA).

Exponential Moving Average, also EMA is a trend analysis tool that works with the same principles as SMA. Calculations for both Exponential Moving Average and the Simple Moving Average use the same formulas.

The only difference is, EMA sends more accurate and timely signals, while the SMA can be late.

And that’s not all. EMA also helps in determining the strength of a trend and its reversal points.

How to Read EMA Signals in Olymp Trade.

Like all the other indicators, Olymp trade advises that you leave the settings as they are.

If anything, only change the thickness of the EMA line or the line color.

Trading tip: – trade in the direction of a trend and you will win more.

The best time to open a trade with EMA signals is immediately when asset price reverses.

A reverse in EMA is indicated by a change in the direction of the EMA line and its intersection with the candlesticks.

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EMA signals

A reasonable sign of a price reversal downwards is when the indicator crosses the candlestick chart and the EMA line turns downwards. Like in the image below. The opposite of this statement is also true.

Exponential moving average indicator

Setting EMA indicator in Olymp Trade.

How to set EMA in Olymp Trade

6. Ichimoku Cloud Trend Indicator.

The Ichimoku Cloud is an integrated trend indicator used to identify both the direction of a price and the strength of a trend. It is also used to gauge momentum and as a trading signals tool.

Visually, the Ichimoku consists of 5 lines similar in operation, but with different types of moving averages.

With this structure, it generates several types of signals at once to help find market entry points with high accuracy.

Ichimoku cloud

This is Ichimoku.

How to Activate Ichimoku Cloud Indicator in Olymp Trade.

How to use Ichimoku cloud

Use the standard settings of Ichimoku to get stronger signals.

You should however change the Tenkan Sen and Kijun Sen line colors or thicken them for visibility. You will be using the intersection of these lines as signals to open your trades.

How to Read Ichimoku Cloud Signals in Olymp Trade.

This indicator has the ability to generate three types of signals.

The most basic signals to look for is the intersection of the Tenkan Sen and Kijun Sen lines.

When the Tenkan Sen crosses the Kijun Sen upwards from below, it likely indicates a rise.

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How to read Ichimoku cloud signals

“golden cross”. Put Option.

If the Tenkan Sen crosses the Kijun Sen downwards from above, it likely indicates a fall.

Dead cross in Ichimoku cloud - Best indicators for signals in Olymp Trade

“dead cross”. Put Option.

Second Type of Ichimoku Signals.

If you wait longer and miss the (Tenkan Sen –  Kijun Sen signals); try looking for this other type of signal instead. The intersection of the Chikou Span line with the price chart.

While you can just trade with Tenkan Sen –  Kijun Sen signals and win; it is important to check if the intersection of the Chikou Span line with the price chart confirms the direction.

Trading tip: – Do not open a trade with the Chikou Span – price chart signals alone.

Expect the asset price to rise if the Chikou Span intersects the price chart from the bottom.

How to use Ichimoku Cloud indicators

The intersection of the Chikou Span line and price chart top-down indicates that the asset’s value will probably fall.

Watch out for Ichimoku signals. This is one of the best indicators in Olymp Trade

Third Type of Ichimoku Signals.

The third type of signal on this indicator is the intersection of Senkou Span A and Senkou Span B lines.

Now these signals are also important, but merely to just confirm the direction of the chart.

Like the Chikou Span – price chart signals, it is not recommended that you open a trade on the analysis of Senkou Span A and Senkou Span B lines alone. Consider Tenkan Sen –  Kijun Sen signals too.

Keep in mind though that if Senkou Span A line intersects the Senkou Span B from the bottom going up then there is the likelihood of asset price rise.

Expect a drop in the asset’s value if the Senkou Span A line intersects the Senkou Span B top down.

7. Zigzag Trend Indicators.

Unlike other indicators, Zigzag does not forecast the future behaviors of assets. Nevertheless, you can use it to analyze the movement of asset prices and to confirm the past direction of trends and their reversal points.

You will see a zigzag-like line formed on your chart once you activate the indicator. It is that shape that gives it its name.

How to activate the Zigzag Indicator.

How to activate ZIgzag indicator in Olymp Trade

8. Olymp Trade WMA Trend Indicator.

Weighted Moving Average (abbreviated as WMA) is a member of the moving average family. It is sister of EMA and SMA.

Like all moving averages, the WMA helps identify the direction of a trend and its reversal point.

It is however unique and different from both the SMA and EMA because unlike them, it assigns each price a certain rating or, as they say, a weight as a means of ranking.

The principle behind this ranking is that the last price be assigned the greatest weight, the price before it, a little less, and so on. As a result, recent prices become the most important and previous prices less important.

This feature helps WMA react quickly to prices hence stringer signals.

Using WMA to win more in Olymp Trade

How to Read WMA Signals.

You can pick WMA signals in two ways. The first way is by just looking at the line to identify its direction.

If the WMA line faces up, click on the green button to open a buy trade. If it faces down, click on the red button to open a sell trade.

The second way of reading WMA signals is when the trading chart intersects the WMA line.

If your chart crosses the line to the top, that’s an upward trend. If it crosses to the bottom then that’s a likelihood of a price fall.

9. ADX Trend Indicator.

The average directional index, also known as ADX is a trend indicator used by traders to identify the direction and the strength of the trend and find its reversal points.

It consists of three lines: – The ADX line, +DI and -DI lines.

+DI and -DI lines show the entry points, and ADX line shows the strength of a trend.

ADX Indicator one of the best indicators in Olymp Trade

Unlike other indicators which we have seen form on top of the chart when activated, ADX from just below the chart.

How to Set the ADX Indicator in Olymp Trade.

How to use ADX to make money in olymp trade. Best indicators for day trading

Leave the lines with a standard-setting of period 14.

When the ADX line rises, it means that a trend is getting stronger.

  • When the ADX line drops, the tendency weakens and a market correction occurs.
  • +DM is higher than -DM when a trend is ascending.
  • -DM is higher than +DM when a trend is descending.

Setting the best indicators in Olymp Trade - ADX in olymp trade

10. Alligator Trend Indicator.

The alligator is a trend indicator used by traders to identify moments a trend is created and find points of entry into the market.

It consists of three lines, formed on the chart to represent the jaw (blue line, the teeth (red line) and the lips (green line) of the beast. Together these lines are refereed to as the “Snout” of the alligator.

Traders use this tool to confirm the presence of a trend and its direction.

The crossing of these lines gives signals to open trades with the corresponding direction.

How to use Alligator wo win in Olymp Trade

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*Risk warning:

The information provided does not constitute a recommendation to carry out transactions. When using this information, you are solely responsible for your decisions and assume all risks associated with the financial result of such transactions.
 

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