Develop a signal indicator for binary options

Terms of Reference for Indicator Development

1. Objective
   Develop a signal indicator for binary options in MQL4 or MQL5 that identifies entry and exit points on the chart based on market trends and patterns demonstrated in the videos from the Trendify Binary Options and Binary Options Turbo YouTube channels. These channels provide practical examples of the expected behavior and functionality of the indicator.

2. Main References
   The primary references for developing the indicator are the videos available on the following YouTube channels:

• Trendify Binary Options
• Binary Options Turbo

These videos contain detailed information on setup, signal logic, and patterns used to identify entry and exit opportunities in the binary options market.

3. Technical Specifications
   The indicator should:

• Identify Candle Patterns: Recognize common candlestick patterns in trend reversals and continuations, such as Pin Bars and Engulfing.
• Signal Entries and Exits: Display arrows or visual icons to signal potential entries (up or down arrows) based on observed trend patterns.
• Analysis Periods: Operate exclusively on M1 and M5 timeframes, with no need for analysis on other timeframes.
• Adjustable Settings: Allow adjustments for volatility sensitivity and displayed signal type, as needed.

4. Desired Features

• Support and Resistance Display: Draw horizontal lines to indicate support and resistance levels based on previous reversal points.
• Display Information on Chart: Show details such as the last generated signal and trend strength.

5. Developer Requirements

• Carefully review the videos on the specified channels to understand the logic and structure of the signals to be implemented.
• Create the code in MQL4 or MQL5, ensuring the indicator is lightweight and efficient.
• Provide brief documentation explaining how to use the indicator and adjust the main settings.

6. Testing and Approval
   The indicator will be tested for 15 days to verify its accuracy in operations. Approval will be contingent on achieving an accuracy rate between 85% and 95% during the testing period.

7. Final Remarks
   The indicator should closely follow the visual examples shown in the videos. The expectation is that the developed indicator will replicate the behavior of the demonstrated signals.
   There is no need to include additional sound or visual alerts other than the icons on the chart.
   Any questions regarding the behavior or functionality of the indicator can be clarified directly through the content of the specified channels.