# Alerts when the price hits important levels (indicator) Binary Options 2020

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Contents

## Free Binary Options Indicator for MT4 – Binary Viper v 1.0

Do you use MetaTrader for your technical analysis to support your binary options trading? Charting provided by binary brokers are often not adequate enough for serious price action analysis. If more elaborate charts are offered, you still won’t get the option to save your your own analysis or add indicators to your charts.

For example, you can view multiple charts at the same time and you can create and save your own templates. You can basically configure the entire look and feel of your charts. The most important thing, however, is the possibility to extend the software and add custom indicators.

## Binary Options MT4 Indicators

There are thousands of technical indicators and Expert Advisers (EAs can trade automatically) available for MetaTrader 4/5. These technical tools can be programmed and optimized for specific asset, such as EURUSD or GOLD, specific market, or specific time frame.

Many Forex indicators or EAs can also be used to trade binary options. They just need to be tested on and adjusted to help form a winning binary options trading strategy.

## What is the right strategy?

The right binary options strategy is basically a winning strategy.

One that is optimized to win as much, and as often, as possible with the least amount of losses.

To learn some trading strategies visit our free strategies section. There are also many good binary options signal providers with winning trading strategies that have proven to work.

But whatever strategy you’ll try to learn, you must make it work for YOU.

In the end, only that matters. Some strategies, however, can work well for some traders, and not very well for others. Ultimately, your strategy must be within your comfort zone.

Keep in mind that a good strategy should include considerations given to your trading habits, eg. time of day you’re trading, assets traded, expiry times, chart set ups, but also sound money management and a lot of self-control.

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## Free Binary options MT4 indicator

This indicator should be used in combination with other indicators. It works on all time frames and all MT4 charts.

The Binary Viper MT4 indicator will give you reversal signals marked with Up/Down arrows. The reversal signals are produced when extreme price levels are reached.

The price levels are calculated by analyzing historical price data and the present price action.

The signals warn of a possible price reversal and upcoming opportunity.

Due to the fact that price levels change and the indicator repaints as it adjusts to new levels, special attention must be given to the next candles that will confirm each reversal.

As this indicator is free to use we do not provide any additional support but we advise to use it with daily and weekly support and resistance levels and candle pattern formations such as the Pin bar.

In addition to visual signals on the charts, sound and popup alerts, the Binary Viper indicator will also give you the option to send free binary options signals to emails and mobiles.

Upon installation, by default, the indicator is configured to run sound and pop up alerts within the MetaTrader 4 and you don’t need to do anything to run them.

However, if you wish you can also configure email alerts and push notifications to your phone in the indicator’s settings. In order for this to work you’ll need to set up your SMTP email account and add your phone number in MT4 options and settings.

## See Binary Viper indicator in action

Below is a short video that shows the Binary Viper free mt4 indicator running on 1 minute GBP/USD chart. As you will see the indicator performs well on a 1 minute chart but we don’t recommend using it on short time frames which tend to have a lot of market noise. Using the indicator of 1-hour charts will produce better results. This video is in fast motion that shows in total about 30-minutes of trading time.

## Features of Binary Viper v1.0

Here is a full list of the features of Binary Viper, the free binary options indicator for MetaTrader4:

• Works on all time frames.
• BUY / SELL signals marked by UP / DOWN arrows (for educational use only!)
• Can be used on its own or in conjunction with other indicators for additional support
• Settings can be configured by user (color, alerts, data)
• Includes sound alertmay be switched off
• Includes a pop up alertmay be switched off
• Includes email alertmay be switched off
• Includes text messagingmay be switched off

Legal Disclaimer. The BinaryViper MT4 indicator is for educational and entertainment use only. This does not constitute trading or any financial advise. By downloading and installing the indicator you acknowledge that you understand that. Trading binary options involves a very high degree of risk.

## Professional indicators for MetaTrader 4

Trend Following MT4 No-Repaint Indicator – Based on Moving Average Crossovers, Average Directional Index and additional filters. Includes free signals and on-screen Smart Display.

MT4 Fibonacci Pin Bar Indicator – Based on price action Pin bar pattern and Fibonacci levels. Includes free signals.

MT4 Price Action Indicator – Based on powerful Pin bar price patterns on manually drawn levels and trend lines. Includes free signals.

## Installation of Binary Viper

Always install and use on a demo account. Installing your free mt4 binary options indicator is as easy as installing and running any MT4 indicator. Follow these steps to get started:

• Go to FileOpen Data Folder
• Copy and paste or move the downloaded and extracted indicator into MQL4 / Indicators folder
• Close MetaTrader and the Data Folder too
• Go to Insert / Indicators / Custom and choose BinaryViper v1.0

## Binary Viper trading strategies – How to use this indicator

Although the signals produced by Binary Viper do a pretty good job at indicating when price action is about to change, in trading, no signals or indicators are 100% accurate and fully market-proof.

Because this indicator repaints, not all the signals will be fully accurate and you will find that at times the buy/sell arrows will move with the price action.

Having said that, if you use this indicator wisely and with other indicators, such as the Bollinger Bands (as it’s shown in the video), it will give you a good indication of where the market might be heading.

One thing to add that may serve as additional guidance in using the Binary Viper MT4 indicator, is that all signals must be confirmed by the price action.

In practice, if the indicator shows a DOWN arrow on the price action going up, ideally you should wait until the arrow settles and the next candle confirms the signal. To learn more about how to read price action read 7 Candlestick formations every trader must know.

## Free indicators vs. paid indicators

Paid indicators offer much more to customers. In addition to a guaranteed customer support, they are rigorously tested and optimized for best performance, and they are often coded for multiple platforms, for example MT4, MT5, NinjaTrader, etc.

Another important aspect of professional indicator is that they are usually designed with more features and possible customizations.

## Alternative approach

If you are looking for a more guided approach and want to use the knowledge and timing of a professional trader, then you might benefit from guided live trading sessions.

For those who have enough of setting up and looking all day long at their charts and indicators, and would prefer a simple-to-follow approach to trading binary options, take a look at our Autobinary signals review or click the image below to go directly to their web-based signalling app.

## Relative Strength Index (RSI) — How to Set Up and Use in Trading

The relative strength index or the RSI is a momentum oscillator used to measure the velocity and magnitude of directional price movements. The indicator can help you determine overbought/oversold levels, as well as provide buy and sell signals.

The RSI indicator with standard settings

The RSI is basically a single line that fluctuates in the corridor between 0 and 100. The closer this line gets to the zero mark the higher are the chances for the asset to be oversold. When the RSI gets close to 100, the asset is likely to be overbought. According to the indicator, the asset price can be expected to appreciate when in the oversold zone and depreciate in the overbought zone.

## How to use it in trading?

As noted above, the RSI fluctuates between 0 and 100%. Traditionally the RSI is considered overbought when above 70% and oversold when below 30%. If the indicator provides a lot of false alarms it is possible to increase the overbought threshold to 80 and decrease the oversold threshold to 20.

Buy and sell signals provided by the RSI

J. Welles Wilder himself was using a smoothing period of 14, which of course can be changed for the purposes of short- and long-term strategy adaptability. Shorter or longer periods are used for alternately shorter or longer outlooks.

The RSI is a universal indicator and can be used for the purpose of trading any asset and any time frame.

Note that during strong trends the RSI can remain in the oversold/overbought zones for quite a long time! It is also worth remembering that no matter how good, no indicator is capable of providing accurate readings 100% of the time.

## Settings and Configurations

In order to use the Relative Strength Index simply do the following:

• click on the “Indicators” button in the bottom left corner of the screen,
• choose the “RSI” from the list of available indicators in the “Popular” tab,
• then push the “Apply” button if you prefer standard settings. The RSI graph will appear in the bottom part of your screen;
• expert traders may find useful taking one more additional step and going to the “Set up & Apply” tab.

Optional: adjusting the settings. When setting up the indicator, you can adjust the period, overbought and oversold levels for more sensitivity/accuracy. Remember that the wider the corridor the fewer signals you get, but at the same time they can be expected to be more accurate. The opposite is the case if the threshold levels are closer to each other: the crossover signals will appear more often, but the number of false alarms will also increase. Remember that by increasing the “Period” parameter you are making the indicator less sensitive.

Configure the indicator settings according to your liking

### Standard approach — 70/30

The smoothing period of 14, oversold level 30% and overbought level 70% are used in the standard approach. This is the most frequently used preset for this indicator. Traders expect the RSI to bounce off 30 and 70 threshold lines. With standard parameters it will happen quite often, but it won’t always mean the actual change in the trend direction is coming.

### Conservative approach — 80/20

The smoothing period of 21, oversold level 20% and overbought level 80% are used by the conservative approach’s advocates. Risk-averse investors set up the indicator in a way that will make the RSI less sensitive and therefore minimize the number of incorrect signals. More extreme high and low levels — 90 and 10 — occur less frequently but indicate stronger momentum.

### Divergence

Divergence is another way to use this indicator. If the movement of the underlying prices is not confirmed by the RSI it can signal a trend shift.

Divergence as a sign of an upcoming price reversal

Divergence can be a good indicator of a coming price reversal. In the example above the price of the asset goes down, while the RSI demonstrates the opposite movement. This situation is followed by the trend reversal.

## Conclusion

The RSI is a powerful tool that can help you determine optimal entry and exit points. Sometimes it can also predict the trend other indicators are too slow to acknowledge. However, it is rarely used on its own and can be combined with other indicators (say, Bollinger Bands or the Alligator). New, when you know how to set it up and use in trading, you may proceed to the trading platform to give it a try!

NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
In accordance with European Securities and Markets Authority’s (ESMA) requirements, binary and digital options trading is only available to clients categorized as professional clients.

GENERAL RISK WARNING

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
87% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

## Forex level indicator SS SupportResistance: everything is very clear and understandable

Forex level indicator SS SupportResistance is one of the best indicators for displaying support / resistance zones with alerts and MTF function.

Forex Level Indicator SS SupportResistance – this, as the name implies, is an indicator that displays zones on the price chart Support и resistance.

At the same time, the SS SupportResistance indicator, by its functionality, is perhaps the best indicator of levels at the moment.

Forex Level Indicator SS SupportResistance

Each zone of support and resistance is highlighted in a separate color and signed, while it is indicated whether it was tested or not. In addition, the MTF function is implemented in the SS SupportResistance indicator, which allows you to select zones from the desired timeframe.

An additional “bonus” Forex Level Indicator SS SupportResistance is the ability to display fractals, as well as the system of alerts when the price reaches one of the zones.

## The Most Important Technical Indicators For Binary Options

Consider the following bets:

• Pay $45 to bet that the price of gold will be above$1,250 at 1:30 p.m. today. Get $100 ($55 profit) if you win, lose $45 otherwise. • Receive$81 now to bet that NASDAQ US Tech 100 index will go below $2,224 at 2 p.m. today. Keep a profit of$81 if your prediction comes true. If it does not, lose $19. • Pay$77 to win $100 if the USD-JPY forex rate goes above 78.06 at 2 p.m. today; you lose$77 if it does not.
• Gain $33 if you bet on the price of bitcoin will go below$379.5 at 3:00 p.m. today. If it doesn’t drop that much, lose $67. Welcome to binary options. All or nothing, one or zero, these securities are available on Nadex and the Chicago Board Options Exchange (CBOE). Binary options allow traders to make time-bound conditional bets on predefined values of stock indices, forex, commodities, events, and even bitcoin values. Like a standard exchange-traded option, each binary option has an option premium ($45, $81,$77, and $33 in the examples above), a pre-determined strike price ($1,250, $2,244, 78.06,$379.5), and an expiry (1:30 p.m., 2 p.m., 3 p.m. today).

The differentiator is the settlement price that remains fixed at $0 or$100, depending on the option condition being fulfilled. It keeps the net profit (or loss) fixed. The option premium also remains between $0 and$100. (Related: Guide to trading binary options)

## Calculating Probability

Since binary options are time-bound and condition-based, probability calculations play an important part in valuing these options. It all boils down to “What is the probability that the current gold price of $1,220 will move to$1,250 or above in the next four hours?“ The determining factors include:

• Volatility (how much and is it sufficient to cross the threshold/strike price?),
• The direction of the price move, and
• Timing.

Technical indicators suitable for binary options trading should incorporate the above factors. One can take a binary option position based on spotting continued momentum or trend reversal patterns. Let’s look at some of the popular binary option technical indicators:

• Wilder’s Directional Movement Indicators (DMI) Average Directional Index (ADX): Composed of three lines, namely ADX, DI+, and DI-, and their relative positions, this indicator aims to capture the strength of an already identified trend. Here is the table for interpreting the trends:

Position

Momentum

Here is an illustration, using 3M Company (MMM) stock:

Image courtesy StockCharts.com

Depending upon the identified momentum and trend strength, an appropriate buy/sell position could be taken.

• Pivot Point(in conjunction with support and resistance levels): Pivot point analysis helps determine trends and directions for any given timeframe. Because of the flexibility in timing, pivot points can be used for binary options, particularly for trading highly liquid major currencies. A good example (with calculation and graphs) is included in the article Using Pivot Points in Forex Trading.
• Commodity Channel Index (CCI): The CCI calculates the current price level of a security relative to the average price during any given timeframe. The average price level is usually the moving average. Time periods can be selected as desired, allowing the trader flexibility in choosing when a binary option expires. The CCI is useful in identifying new trends and extreme conditions of overbought/oversold securities. It is very popular among day traders for short-term trading and may be used with additional indicators such as oscillators. In the below formula “price” is the asset’s current price, “MA” is the moving average of the asset’s price, and “D” is the normal deviation from that average. High values above +100 indicate the start of a strong uptrend. Values below -100 indicate the start of a strong downtrend. The CCI is computed with the formula:
• Stochastic Oscillator: In an interview, the creator of the Stochastic Oscillator, Dr. George Lane, said “it follows the speed or the momentum of price. As a rule, the momentum changes direction before price.” This important underlying detail indicates extreme cases of overbuying and overselling, allowing reversals for bullish and bearish phases to be identified. The crossover of %K and %D values indicate trade entry signals. Although a 14-day period is standard, binary option traders can use their own desired timeframes.

%K = 1 0 0 ( C − L14 H14 − L14 ) where: C = most recent closing price L14 = low of 14 previous trading sessions H14 = highest price traded during same 14-day period \begin &\text <\%K>= 100 \left ( \frac < \text– \text > < \text– \text > \right ) \\ &\textbf \\ &\text = \text \\ &\text = \text \\ &\text = \text \\ \end ​ %K = 1 0 0 ( H14 − L14 C − L14 ​ ) where: C = most recent closing price L14 = low of 14 previous trading sessions H14 = highest price traded during same 14-day period ​

Levels above 80 indicate overbought, while those below 20 indicate oversold.

• Bollinger Bands: Bollinger bands capture an important aspect of volatility. They identify upper and lower levels as dynamically generated bands based on recent price moves of a security.

Commonly followed values are 12 for simple moving average and two for a standard deviation for top and bottom bands.

Contraction and expansion of the bands indicate reversal signals that help traders take appropriate positions in binary options. Overbought situations are indicated if the current market price (CMP) is above the top band. While overselling is indicated when the CMP is lower than the lower band.

A challenge in binary option trading is correctly predicting the sustainability of a trend over a given period. For example, a trader may take the right position for an index, predicting it would hit 1250 at the end of a five-hour period, but the level was achieved in the first two hours. Constant monitoring is needed for the rest of the three hours if the trader plans to hold the position until expiry, or a predetermined strategy should be executed (like squaring off the position) once the level is reached.

## The Bottom Line:

The technical indicators discussed above should be used for timely actions with constant monitoring. One major disadvantage with technical indicators is that the results and calculations are based on past data and can generate false signals. Traders should practice caution with detailed backtesting and thorough analysis for high-risk, high-return assets like binary options.

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