Free Binary Options Indicator for MT4 – Binary Viper v 1.0

binary mt4 indicator viperDo you use MetaTrader for your technical analysis to support your binary options trading? If not than you should really think about using this free software to your advantage. Charting provided by binary brokers are often not adequate enough for serious price action analysis. If more elaborate charts are offered you still don’t get the option to save your configuration settings and add custom signals to the chart view. There are other benefits in using free MetaTrader software to trade binary options.

For example, you can view multiple charts at the same time and you can create and save 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 many binary option indicators out there, some are as costly as $600 and some are completely free. The expensive indicators tend to have one thing in common, they usually generate BUY/SELL signals and a whole trading system build around them. They also feature customer support for at least a couple of months after purchase, sometimes for the whole year. There are also many free indicators that can be used as stand-alone or in conjunction with other indicators to form a binary options strategy. Here are few examples of custom MT4 indicators.

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 trading strategies being sold as a product or service, but whatever strategy you’ll try to learn you must make it work for YOU. In the end, only that matters. Strategies can work well for some traders and not as good for others so ultimately your strategy must be within your comfort zone. Remember 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.

Introducing Binary Viper

divider

Free Binary options MT4 indicator

free binary mt4 indicatorWhether this indicator will help you to form a strategy with other free indicators or whether it will be your only indicator, Binary Viper will help you to trade binary options. It is mostly effective on higher time frames such as the H1, H4, D1.  The indicator works on all time frames but if you intend to use it on the 5 minute chart you should confirm your signals and overall trend on a higher time frame such as the 15 minutes or the 30 minute charts.

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 us of a possible price reversal and upcoming trade 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.

Get ready for free binary options signals

In addition to visual signals on the charts and sound and popup alerts, the Binary Viper indicator will also give you the option to send signals to emails and mobiles. Upon installation, by default the Binary Viper is configured to run sound and pop up alerts within the MetaTrader 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.

Can also be used in Forex trading

This indicator can be used on all types of trading. Since the Binary Viper is a trend predicting indicator it works very effectively on 1H, 4H, 1D charts that are used in intraday trading or swing-trading. It will also work well for long-term traders who look at the weekly and monthly charts. Binary Viper will help you recognize the support and resistance points that mark price reversals. On weekly or monthly charts the signals can indicate considerable price movements.

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 really recommend using it on short time frames which tend to have a lot of market noise. Using the indicator of  1hour 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 alert –  may be switched off
  • Includes text messaging –  may be switched off
  • It’s FREE! – Simply subscribe below and download it for free.


Legal Disclaimer

Binary Viper v. 1.00 indicator is for educational and entertainment use only. Please note that financial trading is very risky and you may lose all your investment. Therefore, always use professional help from your financial advisor before trading on a live account.

Installation of Binary Viper

Installing your free mt4 binary options indicator is as easy as installing and running any MT4 indicator. Follow these steps to get started:

  • If you haven’t already install MetaTrader4
  • 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
  • Open MetaTrader again
  • Go to Insert / Indicators / Custom and choose BinaryViper v1.0
  • Your indicator will load onto the screen

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 so not all the signals will be fully accurate and you will find that at times the buy/sell arrows will move with the price. Having said that, if you use this indicator wisely and in addition with other supporting indicators such as the Bollinger Bands (as it’s shown in the video), it can produce fantastic results.

One thing to add that may serve as additional guidance in using the Binary Viper MT4 indicator is that you may find it is better to enter the trade after the next candle has been confirmed. So in practice if the 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.

Please feel free to come back to this page and in public comments share your strategies and results using Binary Viper. !

Alternative approach

If you are looking for a more guided approach and want to use the knowledge and timing of a professional trader then think about using the Binary options trading signals (BOTS) system with daily LIVE trading sessions. This is good especially for beginner traders. It is advised to first trade with experienced traders and learn from them how to time your trades, which is especially important in binary options trading.

Published in Education

28 Comments

  1. Hello, I downloaded it and installed on mt4 in indicators list. I got a popup signal alert on the mt4 and I traded it and I got a profit but some problem is that after a long time of 15 timeframe I can’t see the arrows on the mt4 chart and also no popup signals reaches after popup alert true no popup signals alerts come. It does not repaint the arrows. Please tell me when it repaints the arrows on the chart?

    • If the popup alert doesn’t work simply restart your MT4 platform. These signals repaint, but not all the time. Many times they will not repaint, it depends on the market’s volatility. Draw daily and weekly support and resistance levels on your charts and compbine them with the signals to predict a trend reversal. Please keep in mind that these signals are unlike other binary options signals in that they only appear when the price action reaches certain price levels. Trading on the 15min charts or higher you just need to be patient and wait. The signals will come eventually, but don’t expect to receive 50 signals a day. Expect about a few strong signals during the day. I hope this helps.

  2. what is best pair? and is that okay timeframe is 5 or 15 mins can helpful profit no more repaint?

    • It’s been mostly tested on EURUSD and GBPUSD and USDJPY. The indicator will work on all time frames but it’s best to use it on higher time frames such as H1 to D1. This version of the indicator repaints because price can change. As new price level is reached the indicator will adjust and follow to mark a new high or low.

      • i hopeful that i hate repaint.. i love nonrepaint… i want to make too easy to show arrows on indicator is comfortable than complex…

  3. I didn’t get this completely. Kindly can u elaborate the below para which is from ur description above.
    (It is mostly effective on higher time frames such as the 15m and 30m and of course the 1H and 4H. The indicator works on all time frames so if you intend to use it on the 5 minute chart you should confirm your signals on a higher time frame such as the 15 minutes of even the 30 minute charts.)

    • Basically you can confirm your signal (trend) on a higher time frame. For example if you’re on 5 minute chart and you have a signal pointing down and the the price action is changing its direction, you can confirm this on a 15 minute chart to see what the indicator is showing you there. If it’s also pointing down or has pointed down and the trend is bearish, there will be slightly greater probability that the price on the 5 minute chart will also go down. I hope this helps

  4. The indicator is a blank file, and does not install, unless I’ve installed incorrectly. The file looks like a blank white page, usually an indicator has the number 4 on it. Can you help

    • Hi Laurie,

      The downloaded file is a zipped file. You need to unzip it and then you will see the .ex4 file

  5. Hello i am interested in the Binary Viper Software can it be used with Any broker that is regulated?
    Thanks
    darren

    • Sure, this doesn’t matter much as the software runs on MT4.

  6. Hello adam,

    I was wondering if the new version is available? I’ve downloaded the one on this page which shows as
    Binary Viper v 1.0.

    • Hi. No, no new versions of this indicator.

  7. I’m only showing the arrows on my MT4 charts? not the 3 lines around the candlesticks?

    regards

    • Hi Michael. Those are Bollinger Bands. You can add them in your MT4 as they are one of the main volatility indicators.

  8. Tested the indicator for a week, on the 15min time frame, it repaints, i will test on higher time frames and report back

    • Yes, this indicator repaints, as mentioned in the description. One needs to use other non-repainting supporting indicators and read price action and price levels.

  9. hi , nice indicator, i’ll wait the no repaint one, it will kill it

  10. I’m a 60 second binary options trader. I will ignore the repaints and take note on average how it it fares with my trades.

  11. How do I download this indicator ? Thank you !

    • You need to confirm your email. If you have not received it then please check your spam folder. When you click the confirmation button you will be taken to a webpage with the download links. I hope this helps.

  12. Thanks for the indicator! Much appreciated, I’m looking forward to the next one. Do you have more indicators for binary options?

  13. Hi, what are the best settings for the BB (TF 15/30/1h)

  14. I would like to switch the email alert on,how do I do it?

  15. what about an ea version of this which puts a buy order in when a buy arrow appears or a sell?

    • We don’t plan on building an EA that trades automatically at this time.

  16. I use your indicator and am very satisfied- thanks. My MT4 is slow and they say this can be sorted by using MT5. Is this indicator available for MT5?

    • No, I’m afraid no MT5 version at this moment. Sorry

Leave a Comment

Your email address will not be published. Required fields are marked *

Choose a Rating