The main advantage of this indicator is that the developers initially adapted it exclusively for binary options trading. By focusing on signals from Boss, you can get rid of a lot of other unnecessary tools that only clutter up the trading space. The investor only needs to follow the notifications and place a bet on time.
Characteristics of the Boss indicator
- Terminal: MetaTrader 4 .
- Time frame: M1-D1.
- Expiration: 1 candle.
- Types of options: Call/Put.
- Indicators: Boss.
- Trading instruments: any.
- Trading hours: 8:00-18:00.
- Recommended brokers: Quotex , PocketOption , Binarium .
How does the Boss indicator work?
The Boss tool was developed by real professionals - traders with many years of experience in trading on the Forex market. They decided to use their knowledge to improve the efficiency of binary options trading. For this purpose, many popular indicators were analyzed ( CCI , MACD , RSI , etc.).
Programmers studied the history of the EURUSD chart on a 15-minute timeframe, analyzing it using various parameters of each indicator. Next, various algorithms were introduced, the task of which was to discover clear patterns that would help to successfully predict the movement of a trading asset within 1 bar. The result was really encouraging: a mathematical equation calculates the probability of the current candle closing above or below the current price.
The indicator also has alerts:
Instructions for installing indicators in MetaTrader 4 :
Using the Boss indicator
After opening a new candle, the program calculates the probability of it closing above or below the current level. In the indicator settings there is an AlertPercentage option. A trading recommendation appears on the screen if the percentage of probability of correct execution of the forecast is higher than the value set in the settings.
The probability threshold is determined by the formula. If the option return is 84%, to break even, the chance of a profitable position must be:
100%/(100%+84%)=54%
Since the profitability of each transaction is always less than 100% (in our case - 84%), and if you lose, 100% of the bet amount is lost, then in order not to trade at a loss, the number of successful contracts should be more than half, it is calculated using this same formula.
When a signal appears, immediately enter the market. Efficiency of execution and absence of freezes are a mandatory requirement for a broker's trading platform. Don't forget to set the option expiration time correctly; it must coincide with the close of the current candle . If you still did not have time to enter immediately after the signal appeared, then wait until the price returns to the price at the time of the signal and only then open a position:
If the bet is “in the money”, a small smiling emoticon will appear on the chart. Another useful feature is that statistics on profitable and unprofitable signals are kept in a separate window:
For those who do not have time to constantly be in front of the terminal, there are convenient alerts:
- SendEmails - to email;
- SendAlerts - in the MT4 trading platform;
- SendPhoneNotifications - signals are sent to a smartphone if the mobile version of the MT4 program is installed on it.
Risk management in binary options
The higher the probability indicator is set, the greater the chance of making a profit. The indicator has a very useful option AdvancedMode , which is responsible for money management and helps the trader to take a comprehensive approach to assessing the situation:
AdvancedMode involves setting different degrees of risk depending on the probability of success:
- 55-60% - 1% of the amount on the account;
- 60-65% - 2% of the deposit amount;
- 65%+ - 5% of funds.
Additional data will help in calculating the bet amount:
- ReturnITM —option return;
- Balance - the amount of money on deposit.
Important :
- Do not respond to signals issued when loading a template.
- Be sure to set your balance amount and payout ratio with your broker, this will help you see more accurate data.
- The indicator does not redraw, but note that if you restart the template, the entire history will be reset.
- If you ignore signals with low chances of successful execution, then hints will appear much less frequently.
- Do not use martingale , the indicator itself determines the bet size taking into account your deposit and the accuracy of the forecast.
Conclusion:
The Boss indicator is an effective analytical tool that automatically determines the probability of the current bar closing above or below the opening price and gives a signal to buy or sell the option. Thanks to the innovative development of professional programmers, there is no need to constantly search for a suitable entry point. An advanced alert system guarantees that the trader will not miss a single signal. Boss generates trading recommendations and helps assess risks: it indicates not only the direction of the bet, but also its optimal size.
Download the Boss indicator
Can't figure out how this strategy or indicator works? Write about it in the comments to this article, and also subscribe to our YouTube channel WinOptionSignals , where we will definitely answer all your questions in the video.
See also:
How to install an indicator in MT4
Minimum account size for binary options trading
To leave a comment, you must register or log in to your account.