Binary Pin Bar
- Indicators
- Roman Lomaev
- Version: 1.0
- Activations: 5
The "Binary Pin-Bar" indicator for MT4 is designed for binary options trading on M1 and M5 timeframes and works with any currency pair. It generates entry signals when a pin-bar candle forms a new high (for an uptrend) or low (for a downtrend).
Features:
- Signals appear as buffer arrows on the chart: a blue arrow indicates a Buy signal, and a red arrow indicates a Sell signal.
- Performance statistics for each currency pair are displayed on the chart to assess signal reliability and optimize parameters if needed.
- The default expiration is set to 1 candle, but it can be adjusted from 1 to 3 candles to improve signal reliability.
- Buffer arrows make timely entries easier and allow the indicator to be used with additional expert advisors for automatic trade execution.
Usage Recommendations: Use the indicator on M5 with a 1-minute expiration when a signal appears.
Setup and Requirements: To function correctly, move the "MQL5" folder to your MT4 terminal folder. Download it from here. Installation instructions can be found in this video.