Free MT4 Indicators For Trading Binary Options – PART 1.
If you trade binary options using the industry standard Meta Trader 4 platform then this post is for you. Especially if you’re looking for an indicator that will help you expand your trading experience and provide valid signals that you could trade on and make profit. Most pro traders will tell you to just look at Volume and PA (Price Action) using candle stick view. While this method is effective it works only for very experienced traders. Here we would like to present FREE and very powerful indicators that can be helpful in trading binary options. These indicators will be enjoyed by novice, as well as, more experienced traders who use the MetaTrader 4 platform for technical analysis.
1. Binary Viper indicator with signals.
This is a free custom indicator that will detect extreme price levels of an asset based on historical price data and issue signals when these levels are reached. The signals are in a form of green and red arrows which indicate a possible trend reversal.
How to use the Binary Viper Indicator.
This indicator is extremely easy to use and very good for higher time frames such as the H1, H4, D1 in conjunction with daily and weekly support and resistance levels. As this indicator repaints trading lower time frames is not recommended. The indicator, in addition to clear arrows shown on the screen will also produce sound and popup alerts by default. This can be modified and turned off in the settings. There are few other additional features too. Please follow this link to learn more.
2. Candle time MT4 indicator.
Another very useful MT4 indicator for trading binary options is the candle time clock which counts the duration of each candle. If you decide to use it on a 1 minute charts the clock will go up to 60 seconds. If you use it on a 5 minute chart the clock will go up to 5.00 minutes.
The candle time indicator will count the time of each candle.
How to use the candle time indicator.
After installation you must add right intend in Meta Trader 4 to allow additional space on the screen to display the clock. If you’re trading 1,2, or 5 minute options expiry times than this indicator will be very useful in determining your entry times. This indicator will also help you to understand price movements within each candle. One thing to consider with this indicator is that its time only changes on price movements, otherwise it remains still. Click the link below to download the zipped indicator. It is very lightweight and works on all time frames.
3. Candle Direction Across Multiple Time Frames Indicator.
This is a very lightweight indicator that simply sits in the corner of your Meta Trader window and displays the direction of the candle on other time frames. This is a very simple yet useful indicator that helps in recognizing bullish or bearish trends and gives you an quick insight into what is going on with your trading instrument on different time frames.
Candle direction across multiple time frames indicator gives insight into trend on other time frames.
How to use the candle direction indicator.
Using the indicator is very simple and straightforward. The green squares indicate a bullish candle and the red indicate a bearish candle. White squares indicate a possible change of direction or simply lack of price movement. When all squares are green or red you know that the currency pair is trending. This is a good indicator for short term trades, such as the 1, 2, or 5 minutes expiry times.
Conclusion.
This concludes the first set of free indicators for trading binary options. I hope that some of you will find them useful in your trading and that you will come back for more interesting indicators. Remember to be focused and confirm all signals with price action patterns. The indicators are only for additional reference.
If you’re looking for a less difficult solution to trading binary options try trading with a professional trader or a signalling service with at least 75% of wins. One of the best ones we’ve seen so far, reaching 85%, are BOTS – binary options trading signals run by Franco in daily live trading sessions.
Remember to always practice on a demo account before going on to a real account! You can also try a few paid indicators and signals, some of them are actually quite good and will give you greater accuracy in trading.
2 Comments.
Thanks for this great indicator. I`m using it on 5 minute expiry time and i`m getting about 20% ROI, which is amazing!
What is your optimal setup for this?
Excellent web site you have here. It’s difficult to find high-quality writing about binary options like yours these days. I seriously appreciate it.
Free Binary Options Indicator for MT4 – Binary Viper v 1.0.
Do you use MetaTrader for your technical analysis to support your binary options trading? If not than you should really think about using this free software to your advantage. Charting provided by binary brokers are often not adequate enough for serious price action analysis. If more elaborate charts are offered you still don’t get the option to save your configuration settings and add custom signals to the chart view. There are other benefits in using free MetaTrader software to trade binary options.
For example, you can view multiple charts at the same time and you can create and save templates. You can basically configure the entire look and feel of your charts. The most important thing, however, is the possibility to extend the software and add custom indicators.
Binary Options MT4 Indicators.
There are many binary option indicators out there, some are as costly as $600 and some are completely free. The expensive indicators tend to have one thing in common, they usually generate BUY/SELL signals and a whole trading system build around them. They also feature customer support for at least a couple of months after purchase, sometimes for the whole year. There are also many free indicators that can be used as stand-alone or in conjunction with other indicators to form a binary options strategy. Here are few examples of custom MT4 indicators .
What is the right strategy?
The right binary options strategy is basically a winning strategy. One that is optimized to win as much and as often as possible with the least amount of losses. To learn some trading strategies visit our Free strategies section. There are also many good binary options trading strategies being sold as a product or service, but whatever strategy you’ll try to learn you must make it work for YOU. In the end, only that matters. Strategies can work well for some traders and not as good for others so ultimately your strategy must be within your comfort zone. Remember that a good strategy should include considerations given to your trading habits, eg. time of day you’re trading, assets traded, expiry times, chart set ups, but also sound money management and a lot of self-control.
Introducing Binary Viper.
Free Binary options MT4 indicator.
Whether this indicator will help you to form a strategy with other free indicators or whether it will be your only indicator, Binary Viper will help you to trade binary options. It is mostly effective on higher time frames such as the H1, H4, D1. The indicator works on all time frames but if you intend to use it on the 5 minute chart you should confirm your signals and overall trend on a higher time frame such as the 15 minutes or the 30 minute charts.
Binary Viper MT4 indicator will give you reversal signals marked with Up/Down arrows. The reversal signals are produced when extreme price levels are reached. The price levels are calculated by analyzing historical price data and the present price action. The signals warn us of a possible price reversal and upcoming trade opportunity. Due to the fact that price levels change and the indicator repaints as it adjusts to new levels, special attention must be given to the next candles that will confirm each reversal. As this indicator is free to use we do not provide any additional support but we advise to use it with daily and weekly support and resistance levels and candle pattern formations such as the Pin bar.
Get ready for free binary options signals.
In addition to visual signals on the charts and sound and popup alerts, the Binary Viper indicator will also give you the option to send signals to s and mobiles. Upon installation, by default the Binary Viper is configured to run sound and pop up alerts within the MetaTrader and you don’t need to do anything to run them.
However, if you wish you can also configure alerts and push notifications to your phone in the indicator’s settings. In order for this to work you’ll need to set up your SMTP account and add your phone number in MT4 options and settings.
Can also be used in Forex trading.
This indicator can be used on all types of trading. Since the Binary Viper is a trend predicting indicator it works very effectively on 1H, 4H, 1D charts that are used in intraday trading or swing-trading. It will also work well for long-term traders who look at the weekly and monthly charts. Binary Viper will help you recognize the support and resistance points that mark price reversals. On weekly or monthly charts the signals can indicate considerable price movements.
See Binary Viper indicator in action.
Below is a short video that shows the Binary Viper free mt4 indicator running on 1 minute GBP/USD chart. As you will see the indicator performs well on a 1 minute chart but we don’t really recommend using it on short time frames which tend to have a lot of market noise. Using the indicator of 1hour charts will produce better results. This video is in fast motion that shows in total about 30 minutes of trading time.
Features of Binary Viper v1.0.
Here is a full list of the features of Binary Viper, the free binary options indicator for MetaTrader4:
Works on all time frames . BUY / SELL signals marked by UP / DOWN arrows (for educational use only!) Can be used on its own or in conjunction with other indicators for additional support Settings can be configured by user (color, alerts, data) Includes sound alert – may be switched off Includes a pop up alert – may be switched off Includes alert – may be switched off Includes text messaging – may be switched off It’s FREE! – Simply subscribe below and download it for free.
Binary Viper v. 1.00 indicator is for educational and entertainment use only . Please note that financial trading is very risky and you may lose all your investment. Therefore, always use professional help from your financial advisor before trading on a live account.
Installation of Binary Viper.
Installing your free mt4 binary options indicator is as easy as installing and running any MT4 indicator. Follow these steps to get started:
If you haven’t already install MetaTrader4 Go to File – Open Data Folder Copy and paste or move the downloaded and extracted indicator into MQL4 / Indicators folder Close MetaTrader and the Data Folder too Open MetaTrader again Go to Insert / Indicators / Custom and choose BinaryViper v1.0 Your indicator will load onto the screen.
Binary Viper trading strategies – How to use this indicator.
Although the signals produced by Binary Viper do a pretty good job at indicating when price action is about to change, in trading, no signals or indicators are 100% accurate and fully market-proof. Because this indicator repaints so not all the signals will be fully accurate and you will find that at times the buy/sell arrows will move with the price. Having said that, if you use this indicator wisely and in addition with other supporting indicators such as the Bollinger Bands (as it’s shown in the video), it can produce fantastic results.
One thing to add that may serve as additional guidance in using the Binary Viper MT4 indicator is that you may find it is better to enter the trade after the next candle has been confirmed. So in practice if the the indicator shows a DOWN arrow on the price action going up, ideally you should wait until the arrow settles and the next candle confirms the signal.
Please feel free to come back to this page and in public comments share your strategies and results using Binary Viper. !
Alternative approach.
If you are looking for a more guided approach and want to use the knowledge and timing of a professional trader then think about using the Binary options trading signals (BOTS) system with daily LIVE trading sessions. This is good especially for beginner traders. It is advised to first trade with experienced traders and learn from them how to time your trades, which is especially important in binary options trading.
28 Comments.
Hello, I downloaded it and installed on mt4 in indicators list. I got a popup signal alert on the mt4 and I traded it and I got a profit but some problem is that after a long time of 15 timeframe I can’t see the arrows on the mt4 chart and also no popup signals reaches after popup alert true no popup signals alerts come. It does not repaint the arrows. Please tell me when it repaints the arrows on the chart?
If the popup alert doesn’t work simply restart your MT4 platform. These signals repaint, but not all the time. Many times they will not repaint, it depends on the market’s volatility. Draw daily and weekly support and resistance levels on your charts and compbine them with the signals to predict a trend reversal. Please keep in mind that these signals are unlike other binary options signals in that they only appear when the price action reaches certain price levels. Trading on the 15min charts or higher you just need to be patient and wait. The signals will come eventually, but don’t expect to receive 50 signals a day. Expect about a few strong signals during the day. I hope this helps.
what is best pair? and is that okay timeframe is 5 or 15 mins can helpful profit no more repaint?
It’s been mostly tested on EURUSD and GBPUSD and USDJPY. The indicator will work on all time frames but it’s best to use it on higher time frames such as H1 to D1. This version of the indicator repaints because price can change. As new price level is reached the indicator will adjust and follow to mark a new high or low.
i hopeful that i hate repaint.. i love nonrepaint… i want to make too easy to show arrows on indicator is comfortable than complex…
I didn’t get this completely. Kindly can u elaborate the below para which is from ur description above.
(It is mostly effective on higher time frames such as the 15m and 30m and of course the 1H and 4H. The indicator works on all time frames so if you intend to use it on the 5 minute chart you should confirm your signals on a higher time frame such as the 15 minutes of even the 30 minute charts.)
Basically you can confirm your signal (trend) on a higher time frame. For example if you’re on 5 minute chart and you have a signal pointing down and the the price action is changing its direction, you can confirm this on a 15 minute chart to see what the indicator is showing you there. If it’s also pointing down or has pointed down and the trend is bearish, there will be slightly greater probability that the price on the 5 minute chart will also go down. I hope this helps.
The indicator is a blank file, and does not install, unless I’ve installed incorrectly. The file looks like a blank white page, usually an indicator has the number 4 on it. Can you help.
The downloaded file is a zipped file. You need to unzip it and then you will see the. ex4 file.
Hello i am interested in the Binary Viper Software can it be used with Any broker that is regulated?
Sure, this doesn’t matter much as the software runs on MT4.
I was wondering if the new version is available? I’ve downloaded the one on this page which shows as.
Binary Viper v 1.0.
Hi. No, no new versions of this indicator.
I’m only showing the arrows on my MT4 charts? not the 3 lines around the candlesticks?
Hi Michael. Those are Bollinger Bands. You can add them in your MT4 as they are one of the main volatility indicators.
Tested the indicator for a week, on the 15min time frame, it repaints, i will test on higher time frames and report back.
Yes, this indicator repaints, as mentioned in the description. One needs to use other non-repainting supporting indicators and read price action and price levels.
hi , nice indicator, i’ll wait the no repaint one, it will kill it.
I’m a 60 second binary options trader. I will ignore the repaints and take note on average how it it fares with my trades.
How do I download this indicator ? Thank you !
You need to confirm your . If you have not received it then please check your spam folder. When you click the confirmation button you will be taken to a webpage with the download links. I hope this helps.
Thanks for the indicator! Much appreciated, I’m looking forward to the next one. Do you have more indicators for binary options?
Hi, what are the best settings for the BB (TF 15/30/1h)
I would like to switch the alert on, how do I do it?
what about an ea version of this which puts a buy order in when a buy arrow appears or a sell?
We don’t plan on building an EA that trades automatically at this time.
I use your indicator and am very satisfied - thanks. My MT4 is slow and they say this can be sorted by using MT5. Is this indicator available for MT5?
No, I’m afraid no MT5 version at this moment. Sorry.
Binary Options 1.0.
Metatrader (MT4/MT5) Indicator.
The PZ Binary Options indicator analyzes price action patterns and helps you to make positive equity decisions in the binary options market.
Amazingly easy to trade Trade both call and put options No crystal ball and no predictions The indicator is non-repainting.
The only strategy to constantly make money trading binary options is applying a mathematical approach, like professional gamblers do. It is based on the following principles:
Every binary option represents a 50/50 random event Predicting if the next bar will close up or down is impossible The only way to make money is paying the right price for all wagers Long-run mathematical expectation is all that matters.
Enhance your trading activity with the best and most complete Binary Options indicator, just like our customers have already done.
What are binary options?
Binary Options are a type of option in which the payoff is structured to be either a fixed amount of compensation if the option expires in the money, or nothing at all if the option expires out of the money. These types of options are different from plain vanilla options and are also sometimes referred to as all-or-nothing options or digital options .
The truth about binary options.
Binary Options have become very popular and attract a lot of novice traders, who find easier to trade binary options than doing actual trading, because position management is out of the equation. Most of them feel they have an edge because they can read technical charts, but ignore that short-time price movements are completely random and have nothing to do with technical analysis.
Binary Options have an expiration time, and therefore cap your profits in two dimensions: price and time. The odds of the future price being above the current price in a fixed period of time is always a 50% chance, and thus trading binary options is actually gambling.
Of course, not all usage of Binary Options should be considered gambling. Binary Options can be used as insurance to hedge actual positions in other assets, like gold, silver or stocks, for example. But make no mistake, trading binary options without an underlying trading strategy is gambling.
The mathematical truth is that, using fixed 50-50 wagers, the broker has an edge and you must be right 55% of the time in order for your bet to have a neutral expected value in the long run.
No one, no matter how knowledgeable, can consistently predict what a stock or commodity will do within a short time frame. Will Apple shares go up or down in the next 10 minutes? Unless there has just been some major announcement from the company, there is no way to even guess at that.
The good news!
The good news is that the binary options market allows you to find trades with positive expected value, because not all bets have the same cost nor have the same payoff.
Would you bet 25 and get payed 75 for a succesful coin flip? You definitely should, because your payoff exceeds the odds of the event and you would make money in the long run. This can also be achieved in the binary options market, all you need is a little patience.
For example, if the market sentiment is very bullish you can find very cheap put options right after the current bar has opened. It is not uncommon to see put options priced at 35 or 40 right after bar opening during an uptrend. This is wonderful, because you are able to bet in a 50/50 event with a 35/65 or 40/60 payoff!
Likewise, it is not uncommon to find call options priced at 35-40 if the market sentiment is bearish. Furthermore, there is a reasonable time window after the bar has opened during which you can still place the bet with the same odds of being right: 50%.
Actual trading is more profitable than binary options trading, but needs more knowledge because the trader has to implement the exit strategy. If you are a novice trader, I recommend you to study and learn to trade. Start here!
How to trade.
Trading with the Pz Binary Options indicator is a piece of cake. The indicator analyzes price action patterns and displays crucial information on the top-right corner of the chart at bar closing.
How much should you pay for a call option How much should you pay for a put option Can the trade still be placed?
Take a look at some examples below:
More information.
The indicator displays past values on the chart and implements a relative strength oscillator that measures the overall tendency using two moving averages: if the main line is above the signal line, bars tend to close above the open price and vice-versa.
Aditionally, strong breakouts or false breakouts are directional factors to have in count, and are portrayed on the chart by a trailing "+" to the candlestick data.
Screenshots.
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Useful indicators for Newbies.
This article is especially for newbies and for new traders in binary options and in trading industry generally. I am going to share with you some very useful indicators which can help you to improve your trading style. Some of them are really simple and I don’t use them now but they helped me very much in the beginning of my trading journey. Let’s start.
The first indicator is very simple and you can find it in your metatrader platform. It’s the zig zag indicator which can help a traders to see more clear the tops and the lows of the market.
Barry is a simple indicator wich draws support and resistance levels. Drawing supports and resistances is a “must” for trades but many newbies have difficulties. So, this indicator can help them and learn them where are the supports and resistances levels.
You don’t have to do something difficult just install this indicator to your metatrader platform and after this drop it to your chart. As you can see in the above chart the red lines are resistances and the blue lines are supports. Of course this indi can’t identify future S&R levels. It just draws a support or a resistance as has happened.
– Overbought and Oversold (RSI and value chart)
For overbought and oversold conditions I have two indicators to recommend you. An overbought condition is a condition in which the asset is much higher from the normal levels and maybe we will have a fall. Oversold is the opposite condition. An asset it’s much lower than the normal levels and maybe we will have a possible rise of the market. To identify these two conditions you can use a RSI indicator from your metatrader platform or a value chart indicator.
In this chart, which is the previous chart with barry, I installed both of them to my metatrader software. In RSI you can add from the configuration two levels. One for overbought conditions and another one for oversold conditions. Many traders use for these two situations the level 70 for overbought and the level 30 for oversold. You could also use 80 and 20 levels for more safety. As you can see in this chart in the RSI we have overbought at highs and oversold at lows.
The value chart indicator does the same job. Green bars are bullish and red bars are bearish. In this indicator you can also gix the levels. Many traders use 8 and -8 lebels for extra overbought and oversold situations and 6 and -6 for softer situations.
A very important indicator for your charts is a news indicator. I don’t have a specific news indicator to recommend you because there are so many out there and generally they do all the same job. A news indiacator shows you if there are news for the market or when we will have news releases. Even if your strategy is not to trade the news you should have an indi like this to know what time there are news and stay away from the market because if you will ignore the news they can destroy your trades.
Very useful and effective indicator created by John Bollinger. It helps you to identify Support and Resistances levels. There is a simple moving average, usually 20 periods, and two bands (up and down) and they can act as S&R levels for the price.
Notice how the price makes bounces in the bands.
Simple indicator which calculates and shows you the daily Pivot levels of the market. It’s very important because there are S&R many times in these levels.
– Harmonic Patterns indicators.
Harmonic Patterns are an advanced lesson of Technical Analysis and it needs to spend time to learn how to draw them. There are indicators which draw harmonic Patterns automatically like ZUP. mq4 or KorHarmonics. mq4. If you are interested in Harmonic Patterns but you can’t draw these indies are a good start. Of course they make wrong estimations many times but they can help you to start drawing by yourself.
A bullish CRAB pattern by KorHarmonics.
From the most important indicators. I use it every day for many reasons but mainly to identify bounces and retracements. You can find it in your metatrader platform in your drawing tools. Levels to add are 38.2, 78.6 and 127. All the others important levels already exist in the default settings.
I wrote an article about moving averages and how to use them. There is nothing standard for the settings as i said many times. I told you the setting I use you can do your backtest and see which settings are the best for your strategy.
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