This is a review of the UOP Binary Options Indicator currently being sold for $97. This is a semi-automated method of trading binary options using your own charting software such as MetaTrader, ThinkorSwim or Ninja Trader. The first version of this indicator was developed to work on MT4 and NinjaTrader but the current version 2.0 only works on NinjaTrader charting software. If you’re looking for an advanced technical indicator that will give you signals on MetaTrader than try Binary Viper, a free MT4 indicator for trading binary options and Forex. The UOP Binary Indicator is one of the few binary options signal products out there that has been specifically built for the NinjaTrader platforms. It’s also important to add that the UOP Binary Indicator only works on Windows PC.
The product on offer is simply do-it-yourself binary options signals system. The concept is very simple. The indicator is created as Ninja Trader custom indicator, which analyzes charts of various assets, picks out trading opportunities and displays them to traders in the form of pop-up signals. The trader can then implement the signal on any binary options trading platform. This puts the trader in total control of what is traded, how and when.
According to the UOP Binary Indicator website, this product is the brainchild of Reginald Stinson, who packaged together a team of experienced analysts, coders, programmers and traders to develop the UOP Binary Indicator software. This software is designed to give trade alerts via audible sound alerts, coinciding with the visual alert shown on the charts. A pop-up box comes up showing:
- the asset on which a trade alert has been issued,
- the date and time of the alert,
- the expected direction of the asset movement.
The UOP Binary Indicator is programmed for trading the Call/Put binary option.
Asset types that can be traded
The UOP Binary Indicator signals service can be used to trade all assets cut across the four different asset classes. Individual assets that can be traded are restricted to those which are presented on the platforms of the trader’s broker as well as the assets listed on the charting software. To be able to receive trade alerts on a wide range of assets, it is recommended to use a broker that lists many currency pairs, gold, silver, crude oil, natural gas, wheat corn, several stock indices (especially the major ones such as the DAX, Dow, Nasdaq, Nikkei 225, Hang Seng, etc) and stocks. A good example is 24option, CherryTrade or Finpari for US clients.
How the UOP indicator works
Trading signals are visually delivered directly on the NinjaTrader platform charts. The software is a programmed custom indicator. Once the indicator is attached to the chart, it will search for signals according to its pre-programmed algorithm. The trader can then attach the indicator to other charts, and await the trading signal. Here is an example:
The trading signal is delivered in the form of arrows appearing over the price action candlesticks. A down arrow appearing on top of a candle is a bearish signal (PUT), while an up arrow appearing below a candle is a bullish signal (CALL).
All that the trader has to do to start using the UOP Binary Indicator is to download and attach the indicator to NinjaTrader and implement the alerts on a binary options platform. There is no need to login to any user interface, any member’s area or go through complicated procedures. The trader is in full control and can decide which signals to implement and which ones to pass.
Here is a video on how to install and trade to the UOP binary options indicator on NinjaTrader. As you will see in the video this will require some technical knowledge. If you’re looking for a simpler solution to binary options trading visit our binary options signal comparison page.
Cost of the UOP Indicator
The price of the UOP Binary Indicator is $297. However, a promo has been put in place by the team behind the software to bring it to users at a fee of $97 only. This is a one-time fee that comes with a 60-day money back guarantee. Payment for the product is made on the JVZOO payment system (currently product is suspended) using a credit card or a PayPal account. It therefore comes with a money back guarantee.
Unfortunately there is no evaluation period for the software. Unsatisfied users can refer to PayPal to have their money refunded within the terms of the money-back guarantee.
Profitability of the system
The UOP Binary Indicator team states on their site that the winning ratios for their software ranges between 75% and 80%. This claim has been corroborated by several subscribers with video testimonials and clips to show their results as proof. They also have a Facebook page where their results are published.
However, in the financial world past performance is not an indicator of future earnings. Furthermore, the fact that the implementation of signals is solely in the hands of the trader means that there will also be differentials in trade results from one individual to another.
The customer support of the UOP Binary Indicator is rather poor. Traders can only contact the customer service desk of UOP company by using an email address that will shown in order confirmation email. Response time is about 3 to 7 days.
In a market where testimonials can easily be faked, the UOP Binary Indicator team has gone the extra mile to prove that they are indeed for real. There are many videos of the trade performance of the software on their website and Facebook page, attached with real users of this software. We have been monitoring its performance for over 4 weeks and the indicator did not perform as well as outlined on the UOP Indicator home page. However, as mentioned earlier this does not necessarily mean it won’t perform well in the near future.
It is our advise that before you spend any money at all on custom indicators such as the UOP Indicator you should try free binary options indicators first such as the Binary Viper technical indicator to see how you’d feel trading binary options from a charting software. These links contain free indicators for the the Meta Trader platform but if you’re used to NinjaTrader than the UOP Binary Options Indicator might be worth a try. However please remain cautious and test it first on a demo account.