The Xtreme Binary Bot Forex Indicator for MetaTrader 4 (MT4) is a custom-designed tool for binary options traders and forex scalpers. Despite its name, this indicator is not an automated trading robot but a manual trading indicator that generates precise signals on your MT4 platform.
How the Xtreme Binary Bot Indicator Works
The Xtreme Binary Bot Indicator employs a sophisticated algorithm automatically identifying valid support and resistance zones on the chart. Once these zones are established, the indicator generates optimal entry signals, represented by colored dots on the MT4 chart. Specifically, LIME dots indicate CALL/BUY signals, while RED dots signify PUT/SELL signals.
This indicator is used primarily in binary options trading and also serves as an effective scalping tool for forex traders. Its versatility suits all experience levels, from novices to advanced traders.
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Trading with the Xtreme Binary Bot Indicator
The indicator is most effective on the M15 time frame, particularly for trading binary options. The trading process is straightforward:
- CALL/BUY Signals: A LIME dot on the chart signals a potential CALL/BUY opportunity. The trader should enter a trade on the next candlestick after the one with the signal dot has closed. The trade should then be exited at the close of that candlestick.
- PUT/SELL Signals: Similarly, a RED dot indicates a PUT/SELL opportunity. The entry is made on the next candlestick following the one with the signal dot, and the trade is exited at the close of that candlestick.
While the Xtreme Binary Bot Indicator is powerful, it is advisable to use it in conjunction with price action analysis. This additional layer of analysis helps filter out false signals and increases the accuracy of trades.
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Conclusion
The Xtreme Binary Bot Indicator for MT4 is a reliable and versatile tool for both forex scalping and binary options trading. Its ability to identify key support and resistance levels and generate clear entry signals makes it a valuable asset for traders. Whether you’re new to trading or have years of experience, this indicator can enhance your trading strategy. Best of all, it’s available for free download, making it accessible to all traders looking to improve their trading performance.
Does this one repaint?
if u see signal at a perfect high & low, its definitely repaint.
better flip a coin and have proper mm than this garbage indi