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.
There are many benefits in using free MetaTrader software to trade.
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.
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.
Introducing Binary Viper
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.
Get ready for free binary options signals
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 alert – may be switched off
- Includes a pop up alert – may 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.
Download Free BinaryViper MT4 indicator
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:
- If you haven’t already install MetaTrader4
- Go to File – Open 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, 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.
Please feel free to come back to this page and in public comments share your strategies and results using Binary Viper.
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.
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.Published in Education, Technical Indicators