The Winner Binary indicator for Metatrader 4 deploys a proprietary trading method to deliver signals for both binary traders and Forex scalpers.
The indicator appears as colored signal arrows in the main MT4 chart window.
For optimal performance, it is recommended to apply the Winner Binary Indicator on the 1-minute (M1) and 5-minute (M5) charts, especially during periods of high market activity.
This setup helps traders capture fast movements and maximize intraday opportunities.
Key Points
- Works for both binary traders and scalpers
- Newbie friendly
- Utilize the M1 and M5 charts
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a buy & sell short-term signals tool.
Free Download
Download the “winner_binary.mq4” MT4 indicator
Trading Chart
The GBP/USD 1-minute chart below shows the Winner Binary Forex indicator in action.
Trading Signals From The Winner Binary Indicator
BUY:
- A buy signal is given when the blue signal arrow appears on the chart.
- Set stop loss below short-term support.
- Exit the buy trade for a predetermined profit target or wait for a sell signal.
SELL:
- A sell signal is given when the red arrow appears on the chart.
- Set stop loss above short-term resistance.
- Exit the sell trade for a predetermined profit target or wait for a buy signal.
Download Now
Download the “winner_binary.mq4” MT4 indicator
Winner Binary + Price Action Pattern Scanner Strategy
This strategy uses the precision of the Winner Binary Indicator combined with the candlestick pattern detection power of the Price Action Pattern Scanner.
The goal is to filter low-quality signals and improve trade timing by confirming binary signals with reliable price action patterns.
Strategy Overview
- Indicators Used: Winner Binary Indicator, Price Action Pattern Scanner
- Timeframes: 1-minute (M1), 5-minute (M5)
- Market: Major Forex pairs (EUR/USD, GBP/USD, USD/JPY, etc.)
- Style: Binary options or scalping
Buy Setup
- The Winner Binary Indicator prints a blue up arrow on the chart.
- The Price Action Pattern Scanner identifies a bullish pattern (e.g., bullish engulfing or pin bar) on or near the same candle.
- Enter a BUY trade at the close of the confirmation candle.
Sell Setup
- The Winner Binary Indicator prints a red down arrow.
- The Price Action Pattern Scanner confirms with a bearish pattern (e.g, bearish engulfing or bearish pin bar).
- Enter a SELL trade at the close of the confirmation candle.
Trade Management
- Stop Loss: Just below the most recent swing low for BUY trades, or above the swing high for SELL trades.
- Take Profit: 1:2 risk-reward ratio or exit on opposite signal from the Winner Binary Indicator.
- Risk: Never risk more than 2% of your capital per trade.
Adjustable Parameters & Settings
Number of bars, colors, and style
Experiment with the indicator’s settings and parameters to tailor a custom setup that fits your trading style.
Technical Information
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: Binary / Scalping
How do you install the Winner Binary indicator in Metatrader 4?
- Copy and paste the winner_binary.mq4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
