The Simple Binary Options indicator for Metatrader 4 is a great early trend prediction tool for binary trading and Forex scalpers.
The indicator pops up in the main MT4 chart window as green and red colored buy and sell arrows.
It helps you to get into the short-term trend early.
Buy & Sell Trade Example
- A buy signal occurs when the green signal arrow gets printed on the chart.
- A sell signal occurs when the red signal arrow gets printed on the chart
For scalping purposes, 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 “simple-binary-options-indicator.mq4” indicator for MT4
Indicator Chart (EUR/USD M1)
The picture below shows the Simple Binary Options 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 when trading with the Simple Binary Options 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.
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.
The Simple Binary Options and RSI with CCI MT4 scalping strategy provides quick, high-probability entries that follow the market trend.
By keeping targets small (5–10 pips) and trading with discipline, traders can achieve consistent intraday gains.
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Download the “simple-binary-options-indicator.mq4” indicator for Metatrader 4
