KENOX Binary is a free Metatrader 4 (MT4) indicator that was developed for both binary options trading and Forex scalping.
The indicator pops up in the main MT4 chart window as green and red colored buy and sell arrows that provide short-term trend direction.
The KENOX Binary can be used in multiple ways.
Buy & Sell Trade Example
- A buy signal occurs when the green signal arrow is displayed on the chart.
- A sell signal occurs when the red signal arrow is displayed on the chart
The KENOX Binary indicator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
For scalping and day trading on the lower time frames, the indicator performs best during the London and New York trading sessions.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “KENOX Binary Indicator.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The example chart below displays the KENOX Binary mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the KENOX Binary indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Signals
Does the indicator repaint? No.
Kenox Binary + XP Moving Average MT4 Scalping Strategy
This scalping strategy combines the precision of the Kenox Binary Indicator with the trend-following power of the XP Moving Average Indicator for MetaTrader 4.
It works well on short-term time frames such as M5 and M15, making it suitable for day traders looking for quick entries and exits.
By using signals from both indicators, traders can filter false moves and trade with the overall market trend, improving the probability of profitable trades.
Buy Entry Rules
- Enter a buy trade when the Kenox Binary Indicator displays a green arrow.
- Confirm that the XP Moving Average shows a bullish trend (green line).
- Place the stop loss below the most recent swing low or below the green trend line.
- Take profit at 10–20 pips for scalping or at the next resistance level, depending on market conditions.
Sell Entry Rules
- Enter a sell trade when the Kenox Binary Indicator displays a red arrow.
- Confirm that the XP Moving Average shows a bearish trend (red line).
- Place the stop loss above the most recent swing high or above the red trend line.
- Take profit at 10–20 pips for scalping or at the next support level, depending on market conditions.
Advantages
- Combines trend and signal indicators to reduce false signals.
- Works well on multiple currency pairs, including EUR/USD, GBP/JPY, and AUD/USD.
- Suitable for short-term scalping with quick profits.
- Simple visual signals make it easy for beginners to use.
Drawbacks
- May produce false signals during low liquidity or ranging markets.
- Requires close monitoring for stop loss and take profit adjustments.
- Not suitable for long-term position trading.
Example Case Studies
Case Study 1 – EUR/USD M5
On a busy London session, the Kenox Binary Indicator gave a green arrow at 10:15, while the XP Moving Average line confirmed an upward trend.
A buy order was placed with a stop loss 8 pips below the swing low.
The price quickly moved in the direction of the trend, hitting a 15-pip take profit within 20 minutes.
This demonstrates how the combination of the arrow signal and trend filter helps secure quick scalping gains.
Case Study 2 – GBP/JPY M15
During an Asian session, a red arrow appeared on the Kenox Binary Indicator.
The XP Moving Average line turned red, confirming a bearish trend.
A sell order was opened with a stop loss 10 pips above the recent swing high.
The market moved down steadily, hitting a 22-pip take profit.
This shows that using both indicators together provides reliable short-term trend entries even in volatile pairs.
Strategy Tips
- Always trade in the direction of the XP Moving Average trend to avoid false signals.
- Use the strategy on high liquidity pairs for faster execution and lower spreads.
- Combine with support and resistance levels for better exit points.
- Adjust take profit levels based on market volatility and session timing.
Download Now
Download the “KENOX Binary Indicator.mq4” indicator for Metatrader 4
