About the Binary Reaper V3.0 Indicator
Binary Reaper V3.0 for MT4 is designed for both binary options and Forex traders.
It provides simple green and red arrows on the chart to show potential buy and sell opportunities.
This makes it easy to spot trends without complex analysis.
The indicator works on any currency pair and timeframe, making it suitable for scalping, day trading, or binary strategies.
It can be used alone or combined with other indicators for confirmation, helping traders make faster, more confident decisions.
Free Download
Download the “Binary Reaper v3.0.ex4” indicator for MT4
Key Features
- Green arrows indicate buy signals, red arrows indicate sell signals
- Suitable for binary options and Forex trading
- Works on all currency pairs and timeframes
- Easy to use for beginners and advanced traders
- Can be combined with trend or momentum indicators for added accuracy
- Minimal setup required
Indicator Chart
The chart shows the Binary Reaper V3.0 arrows in action.
Green arrows suggest opening long trades, while red arrows indicate short trades.
This provides clear guidance for timely entries and exits.
Guide to Trade with Binary Reaper V3.0
Buy Rules
- Enter a buy trade when a green arrow appears
- Exit or reverse when a red arrow forms
Sell Rules
- Enter a sell trade when a red arrow appears
- Exit or reverse when a green arrow forms
Stop Loss
- Place a stop just below the previous swing low for buys
- Place a stop just above the previous swing high for sells
- For short-term trades, keep stops tight to reduce risk
Take Profit
- Close trades at the next strong support (for sell) or resistance (for buy).
- Take partial profit after 5–10 pips on lower timeframes.
- Use a fixed pip target based on recent price swings.
- Exit immediately if the market shows reversal signals.
Practical Tips
- Use on M1–M15 charts for scalping or binary trading
- Focus on pairs with clear directional trends
- Avoid choppy or low-volatility conditions
- Keep position sizes small when trading binary options
MT4 Day Trading Strategy: Binary Reaper V3.0 + No Lag Moving Average
This day trading strategy combines the Binary Reaper V3.0 Indicator and the No Lag Moving Average Indicator for intraday trading across various currency pairs.
The Binary Reaper provides green arrows for buy signals and red arrows for sell signals.
The No Lag Moving Average confirms the trend, using a blue line for bullish trends and a red line for bearish trends.
This strategy works best on 15-minute to 1-hour charts, offering clear entry and exit rules for day traders.
Buy Entry Rules
- Wait for a green arrow from the Binary Reaper V3.0 Indicator.
- Confirm the trend is bullish with the blue line of the No Lag Moving Average.
- Enter a buy trade at the close of the confirming candle.
- Set the stop loss just below the recent swing low or a nearby support level.
- Set take profit at a 1:2 reward-to-risk ratio, or exit if a red arrow or red MA line appears.
Sell Entry Rules
- Wait for a red arrow from the Binary Reaper V3.0 Indicator.
- Confirm the trend is bearish with the red line of the No Lag Moving Average.
- Enter a sell trade at the close of the confirming candle.
- Set the stop loss just above the recent swing high or a nearby resistance level.
- Set take profit at a 1:2 reward-to-risk ratio, or exit if a green arrow or blue MA line appears.
Advantages
- Combines precise entry signals with trend confirmation for higher probability trades.
- Suitable for multiple currency pairs, including AUD/USD, USD/CAD, and EUR/JPY.
- Helps traders avoid entering against the trend.
- Non-repainting indicators provide reliable past signals.
- Clear structure improves discipline and reduces emotional trading decisions.
- Works well on multiple intraday timeframes for flexible trading.
Drawbacks
- High spreads or slippage can affect profits on short-term trades.
- Trend reversals during news events can trigger stop losses quickly.
- Scalpers may need faster execution and broker reliability to optimize results.
Case Study 1
On the AUD/USD 30-minute chart, a green arrow from Binary Reaper appeared, confirmed by the blue No Lag Moving Average line.
A buy trade was entered at 0.6725, with a stop loss at 0.6715 and a take profit at 0.6745.
The trade reached take profit within 90 minutes, yielding a 20-pip gain.
Case Study 2
On the USD/CAD 1-hour chart, a red arrow appeared from Binary Reaper, confirmed by the red No Lag Moving Average line.
A sell trade was entered at 1.3515, with a stop loss at 1.3530 and a take profit at 1.3485.
The trade reached take profit in 2 hours, capturing a 30-pip gain.
Strategy Tips
- Focus on high-liquidity sessions such as London and New York overlaps for better trade execution.
- Use currency pairs with lower spreads to maximize profitability, such as AUD/USD, USD/CAD, and EUR/JPY.
- Combine with support and resistance or pivot points to filter false signals.
- Avoid trading during major economic news releases to prevent sudden volatility spikes.
- Use trailing stops to secure profits on strong trends.
- Monitor multiple pairs quickly to capture the best intraday opportunities.
Download Now
Download the “Binary Reaper v3.0.ex4” indicator for Metatrader 4
FAQ
Is Binary Reaper V3.0 beginner-friendly?
Yes. Arrows provide clear entry signals without complex setups.
Does it repaint signals?
No. Once an arrow appears, it stays fixed on the chart.
Can it be used for binary options?
Yes. It is suitable for binary options and regular Forex trading.
Which timeframes work best?
Lower timeframes like M1, M5, and M15 are ideal for scalping and binary strategies.
Summary
Binary Reaper V3.0 for MT4 is a versatile indicator for Forex and binary options trading.
Green and red arrows mark buy and sell opportunities, making it easy to follow trends and enter trades quickly.
It is beginner-friendly, works on all pairs and timeframes, and can be combined with other indicators for improved accuracy.
The indicator simplifies decision-making and helps traders act faster in dynamic markets.
