About the Simple Binary Options Indicator
The Simple Binary Options for MT4 offers a refined approach to identifying trade setups by tracking rapid shifts in market sentiment.
This setup delivers data in a clean, visual format, bypassing the need to interpret complex oscillators during fast-moving sessions.
The Simple Binary Options indicator for Metatrader 4 is a great early trend prediction tool for binary trading and Forex scalpers alike.
The indicator pops up in the main MT4 chart window as green and red colored buy and sell arrows, making it highly intuitive for traders who need to make quick decisions.
It helps you to get into the short-term trend early, ensuring you are positioned before the bulk of the move has already occurred.
For scalping purposes, the indicator performs best during the London and New York trading sessions when volatility and volume are at their highest.
Free Download
Download the “simple-binary-options-indicator.mq4” indicator for MT4
Key Features
- It provides instantaneous buy and sell signals directly on the price chart.
- The indicator focuses on early trend detection, allowing for high-precision timing.
- It works effectively across all timeframes, specifically excelling on M1 and M5 charts.
- It serves as an excellent standalone signal generator or a secondary trend filter.
Indicator Chart
The Simple Binary Options indicator chart features colored arrows that appear above or below the price candles.
A green arrow indicates a bullish shift, suggesting that the market is ready to move upward.
A red arrow signifies a bearish transition, indicating that downward pressure is mounting.
By watching the frequency and placement of these arrows, a trader can easily identify high-conviction zones where the market is likely to follow through.
Guide to Trade with Simple Binary Options Indicator
Trading with this tool requires responsiveness to catch the early momentum signals during active market hours.
Buy Rules
- Monitor the price action for a potential reversal or continuation move.
- A buy signal occurs when the green signal arrow gets printed on the chart.
- Open your trade as soon as the arrow appears and the current candle closes.
- Verify the signal by ensuring the broader trend on a higher timeframe is also bullish.
Sell Rules
- Watch the chart for signs that the current upward momentum is fading.
- A sell signal occurs when the red signal arrow gets printed on the chart.
- Execute your sell entry immediately upon the confirmation of the red arrow.
- Confirm the trade by checking that there are no major support levels in the immediate path.
Stop Loss
- Place your stop loss a few pips below the green arrow for buy entries to protect against spikes.
- Position your stop loss slightly above the red arrow for sell trades to guard against reversals.
- Always adjust your risk based on the specific volatility of the currency pair you are trading.
- Maintain a consistent risk-per-trade strategy to ensure long-term sustainability.
Take Profit
- Exit the position when an arrow of the opposite color appears on the chart.
- For binary options, choose an expiry time that aligns with the timeframe you are using.
- For forex scalping, target a 1:1.5 or 1:2 risk-to-reward ratio to secure quick gains.
- Consider closing the trade if the price reaches a major psychological or horizontal level.
Scalping Strategy for MT4: Simple Binary Options + RSI with CCI Forex Trend
This scalping strategy combines the Simple Binary Options Indicator MT4 with the RSI with CCI Forex Trend Indicator MT4.
The Simple Binary Options indicator provides clear entry signals via arrows: green for buy and red for sell.
The RSI with CCI Forex Trend indicator confirms trend direction with histogram bars: green for bullish momentum and red for bearish momentum.
Using both together gives traders precise scalping opportunities with trend confirmation.
This strategy is ideal for M1, M5, and M15 charts, particularly during high-liquidity sessions like London and New York.
It is designed for traders who want fast, short-term trades, capturing small price movements of 5–10 pips.
Buy Entry Rules
- Confirm the RSI with CCI histogram is green, indicating bullish momentum.
- Wait for a green arrow to appear on the Simple Binary Options indicator.
- Enter a buy trade at the close of the candle with the green arrow.
- Set a stop loss below the recent swing low or support level.
- Take profit between 5–10 pips or exit when the arrow changes color.
Sell Entry Rules
- Confirm the RSI with CCI histogram is red, indicating bearish momentum.
- Wait for a red arrow to appear on the Simple Binary Options indicator.
- Enter a sell trade at the close of the candle with the red arrow.
- Set a stop loss above the recent swing high or resistance level.
- Take profit between 5–10 pips or exit when the arrow changes color.
Advantages
- Combines arrow-based entry with momentum confirmation for higher probability trades.
- Works well on multiple currency pairs with tight spreads.
- Captures small, frequent profits in active markets.
- Can be used on lower time frames for rapid trades during high-volume sessions.
Drawbacks
- Spread and slippage can reduce profits on very small targets of 5–10 pips.
- Traders must act quickly to enter and exit positions as signals appear.
Case Study 1: EURUSD M1 – London Session
During the London session, EURUSD displayed a green RSI with CCI histogram, confirming bullish momentum.
A green arrow appeared on the Simple Binary Options indicator at 1.1002.
A buy trade was entered with a 5-pip stop loss.
Within 8 minutes, the price reached 1.1009, yielding a 7-pip profit.
Case Study 2: GBPUSD M5 – New York Session
GBPUSD on the M5 chart showed a red RSI with CCI histogram, indicating bearish momentum.
A red arrow appeared at 1.2785 on the Simple Binary Options indicator.
A sell trade was executed with a 6-pip stop loss.
Price dropped to 1.2778 within 10 minutes, resulting in a 7-pip gain.
The alignment of the trend and signal arrow produced a reliable intraday scalp.
Strategy Tips
- Trade primarily during high-volume sessions to increase momentum and signal reliability.
- Only take trades when the histogram and arrow signal align.
- Focus on capturing small, consistent profits rather than chasing larger moves.
- Use trailing stops if the trend is strong to lock in profits while letting winners run.
Download Now
Download the “simple-binary-options-indicator.mq4” indicator for Metatrader 4
FAQ
Why is this indicator recommended for the London and New York sessions?
Binary and scalping strategies rely heavily on volatility. During the London and New York sessions, there is enough volume to push the price decisively in one direction.
The Simple Binary Options indicator is tuned to react to this volume, so using it during these hours ensures the signals have the momentum needed to reach your profit targets quickly.
Can I use this for 60-second binary options trades?
Yes, this indicator is a favorite for 60-second and 5-minute binary traders.
On the 1-minute chart, it identifies very small shifts in the market rhythm that are perfect for short-term expiries.
However, always ensure you have a fast internet connection and a low-latency broker to get the best results from these rapid signals.
Summary
The Simple Binary Options for MT4 is an effective momentum tool that assists in determining the appropriate timing for market entries.
By providing a clear visual cue for early trend changes, it helps you stay ahead of the crowd and enter trades with high conviction.
This tool helps traders maintain a disciplined routine by highlighting levels where the market is statistically likely to move.
Using this indicator allows you to filter high-risk trades and focus on high-probability momentum bursts.
