EA: Binary Options Forex Pips Striker
This is an expert advisor that uses the Forex Pips Striker Indicator and Price Border and does a CALL or PUT for Binary Options.
Here is a pretty good explanation of how the Forex Pips Indicator works and what the strategy is for this EA:
So, the basic rules of trading:
– Wait for the signal from Forex Pips Striker Indicator v2 (1)
– The price must touch or break through the price channel (2)
– Expiration – 3 candles (15 min for M5)
EA Checks For:
1. Price border is formed
2. Price crosses Up Channel means it’s ready for a SELL (isSellOn) and vice-versa for BUY (isBuyOn will be set to true)
3. If SELL Arrow and isSellOn then do a SELL and vice-versa.
The Arrow indicator does re-paint, so we always take Close and never Close.
Another problem that I found is if the price does reverse and crosses a Channel but goes too far, then it might reverse again really soon:
So, I have added another condition to check:
Even if Arrow is there but if it goes below Mid Channel then don’t Trade.
To make it more restrictive, uncomment lines:
// More restrictive Mid values: PriceBorder_MidUp = PriceBorder_Up - (PriceBorder_Up - PriceBorder_MidUp)/2; PriceBorder_MidDown = PriceBorder_Down + (PriceBorder_MidDown - PriceBorder_Down)/2;
This will check if price crosses half of the UpperChannel-MidChannel as shown by the arrow:
It won’t trade in this case.
You’ll get fewer signals but it will be more accurate. Fine-tune it more by changing this value.
– Forex Pips Strategy (as explained above)
Set MM_Martingale_RestartLoss to true in the EAs Options – for no martingale.
– Strategy Tester CSV file:
– Screenshots in case of Loss:
Set TakeLossScreenshot to true in EAs Options.
All the files for the indicators as well as the EA are attached here:
Abiroid_Binary_ForexPips_Indicators.rar (249 downloads)
Abiroid_Binary_ForexPips_EA (253 downloads)
I have been getting some very good results with EURUSD using Martingale x2.1 for 3 iterations, for M5 Chart and Expiry 15-minutes.
Martingale: Means if you start with $1 and a loss, next time 2.1, next 4.41 and finally 9.26. It almost always gives me a win before it reaches the 3rd iteration.
But I haven’t had much time to backtest it.
Please use it with your DEMO account. Also don’t use it with sideways market as it tends to give more losses then.
Because even if it crosses a channel, it starts to go sideways after that.
Hope you guys try it out and let me know which forex pair you tried it with and how are the results.
Also if you have any suggestions to make it more profitable, please let me know in the comments below.
Thanks for reading!
Sometimes the Forex Pips indicator delays the arrow and paints it in previous candles. So that signal was getting missed.
This version has fixed the issue and will check previous 3 candles for the arrow signal.