Xtreme Binary Bot Indicator

 

The Xtreme Binary Bot indicator for MetaTrader is a custom trading indicator designed to generate signal on the MT4 platform  for binary options. The indicator isn’t an automated trading robot as the name may suggest; it’s a manual indicator that generates signals for Binary Options.

The indicator’s algorithm was designed to automatically identify valid support and resistance zones and then paint an optimal entry on your mt4 chart. It comes with signal dots colored in LIME and RED that depict CALL/BUY and PUT/SELL signals, respectively.

Furthermore, aside from trading binary options with this indicator, it also doubles up as a great scalping tool for forex traders. The Xtreme Binary Bot indicator is ideal for novice, intermediate and advanced traders.

How To Trade With Binary Bot Indicator

The above screenshot depicts how the indicator would look on your MT4 chart. Moreover, it is recommended to be used along with price action to filter/minimize false signals.

The Binary Bot indicator works great on the M15 time frame for trading binary options. The trading principle is to place an entry on the next candlestick after the candlestick with the signal dot closes and then exit the trade at the close of the candlestick.

CALL/BUY and PUT/SELL Signals: Firstly, wait for the LIME signal dot to appear on the M15 time frame, for instance. You may then open a CALL/BUY entry upon the formation of the new candlestick and exit the trade immediately after it ends. The above CALL/BUY principle is also applicable for the PUT/SELL signal.