The Simple Binary Options indicator is a MetaTrader 4 (MT4) technical indicator developed for trading binary options. It follows the trend, identifies a trend reversal zone at a support/resistance level, and then displays a LIME or RED arrow.
The LIME arrow indicates that the next candlestick of the financial asset would most likely move to the upside, depicting a CALL signal. Similarly, a RED arrow indicates that the next candlestick would likely move lower, suggesting a PUT signal.
So, a binary options trader may open a CALL or PUT order when the indicator displays a LIME or RED arrow, respectively. Note that the time frame that a signal is generated determines the closing time for a CALL or PUT options. For instance, a CALL option signal generated in the H4 time frame should be closed after the next H4 candlestick closes.
Which indicator is best for binary option trading?
A lot of binary options traders use the moving averages to identify CALL/PUT signals when the moving averages crossover. Others generate signals from technical indicators like the Relative Strength Index, MACD, to name a few. However, the Simple Binary Options indicator would easily pass as one of the best indicators optimized for binary options trading.
Features of the Indicator
The Simple Binary Options indicator is a multi-timeframe trend analyzer and, thus, works on all the time frames. Besides, it is also incorporated with an algorithm that follows the trend and makes analyses on all financial assets supported on the MT4 platform.
Furthermore, the indicator’s CALL/PUT signals do not repaint. Finally, it also allows the user to customize the color of the CALL and PUT arrows as desired.
Benefits of Indicator
- Stand-alone Indicator: The Simple Binary Options indicator for MT4 can be used in isolation to take CALLS and PUT binary trades.
- Easy to understand signal: The indicator’s signals are easy to decipher and follow, which makes it a beginner-friendly tool for binary option.
Indicator Description Settings
The Simple Binary Option indicator comes with the following customizable settings:
Risk: This determines the rate at which signals are generated. A higher period would generate fewer signals, while a small one would generate more.
Arrows Gap: Determines the distance between the buy/sell signal arrows and the candlestick.
Reviews
There are no reviews yet.