Expert Advisors for trading Binary Options

Forex Robots

How to Create Expert Advisors for Trading Binary Options

The software we are going to use for creating EAs is a simple builder that everyone can learn to use without programming skills.

You can create an Expert Advisor for trading Binary Options, provided your binary options broker supports MetaTrader 4.

The software we will use to create EAs is a simple builder that anyone can learn to use without programming skills. It’s free to create indicators, but building EAs requires a one-time payment.

 

Specifications of the Application

Expert Advisor Builder is a fully web-based app that requires no software installation. It’s designed to turn your ideas into fully automated trading systems without any programming skills. Even if you don’t know what an Expert Advisor is, you can build one in just a few days. Importantly, EA Builder is completely free for creating indicators.

The application develops Expert Advisors compatible with three platforms—MetaTrader 4, MetaTrader 5, and TradeStation—allowing you to trade any financial asset available on these platforms, including currencies, stocks, indices, gold, oil, and more.

Though the app features a user-friendly graphical interface, there are also plenty of tutorials—both text and video—to help traders overcome challenges.

■ Free to use for building indicators

■ $97 one-time fee to create Expert Advisors

We recommend starting with the free version and upgrading later.

» Expert Advisor Builder for Binary Robots

Other Important Functions

  • Create alerts via Print Screen, email, and Audio
  • Money-Management system building
  • Time preferences
  • Unlimited variables when developing Expert Advisors
  • Full position sizing
  • Martingale / Anti-Martingale trading techniques

 

Automated Binary Options Trading

Example on EURUSD..

First, make sure your broker supports MetaTrader 4; otherwise, you won’t be able to use your Expert Advisor.

By right-clicking in the Market Watch area of MT4, you can view all available assets for trading binary options (select “Show All”).

Example with EURUSD

  • When you click “New Order,” a special Binary Options box will appear (see image).

 

Building your Automated Binary Trading Strategy with EA Builder in 7 Steps

In the following example, you’ll see how to build a breakout trading system using EA Builder.

STEP 1: After signing up with EA Builder (which takes just a few minutes), go to “Create a new MetaTrader 4 Strategy” and name it, for example, Daily Breakout Binary.

STEP 2: Add your customized conditions to the system.

There is a wide variety of trading indicators and variables you can apply to your strategy. In our example:

  • Price (Bid), Crosses Above, Resistance

  • Time Interval: 12 hours

  • Fixed time of day

  • Time Interval ends at 10 o’clock

  • We want to draw the resistance on the chart

When finished, click OK.

STEP 3: Click the "BO" icon to switch the order type to Binary Option and set the Binary Options Expiry Time.

  • The Expiry Time is set to 1 hour.
  • The idea behind this strategy is that when the price breaks through a significant level (support or resistance), it is likely to continue in the same direction for at least one more hour.
  • The opposite conditions apply for selling: if the price crosses below support, the system opens a new position with the same expiry time.

Since the number of trades isn’t limited yet, the same order could be sent multiple times. To prevent this, you can schedule the next order for the following day by checking “Next Open Trade After Time Of The Day” at 10 o’clock, which matches the interval’s end time.

STEP 4: Set the appropriate money management. In this example, the invested amount is $10.

That’s all—your source is ready.

STEP 5: Copy the source code and compile it. Your new binary options Expert Advisor is 100% ready.

STEP 6: Restart the MetaTrader platform.

From now on, your EA will automatically open long or short trades each time the price breaks through major levels (support or resistance).

This is how you can turn any trading idea into an Expert Advisor for Binary Options trading.

 

Try the Expert Advisor Builder for free

■ Free to build indicators

■ $97 to create Expert Advisors

» Expert Advisor Builder App Website 

■ Creating Custom Binary Options Robots

BinaryValue.com

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