BOSS Indicator Review
Most traders, especially those who look at binary options not as a form of gambling but as a way to trade in financial assets, would agree that the industry faces a chronic shortage of effective indicators. This is why the unveiling of the BOSS Indicator (Binary Options Statistical Signals Indicator), which prides itself as being the first MetaTrader indicator made specifically for the binary options market, has been met with overwhelming interest by this financial services industry.
There are tens of thousands of signals that traders can use when trading the markets using the world’s most popular online trading platform, MetaTrader. This is why it is no mean feat for one signals indicator to stand out among the rest because it caters specifically to binary options traders.
Binary option traders were certainly relieved when the industry introduced technological innovations that allowed them to trade binary options on the popular MT4 platform. This reduced the need to use web-based trading platforms, which are considerably inconvenient when compared to standalone trading platforms.
How The Boss Indicator Was Created
The creators of the BOSS Indicator relied on the principles on which classical indicators are founded, and used test data going back five years to fine-tune the indicator. The intuitive neural network algorithms, which are able to detect patterns, were then used to code the BOSS indicator.
Main Features Of The BOSS Indicator
This indicator makes use of Neural Network Technology to predict future market action. The benefit of this feature is that traders get no lag, delays or repaints. While these outstanding features are enough to make the indicator stand out, success in actual market tests have so far added to its credibility in the binary options community.
BOSS Indicator Basic Operation and Installation
The BOSS Indicator appears on the right side of the MT4 and MT5 charts, where it displays binary option contract winning possibilities for the 1M, 5M, 10M, 15M, 30M, and 60M timeframes. When you can’t get attractive probabilities, which are provided for either price direction, you can wait for better chances. You do not have to sit around staring at the chart either, you can set alerts for when certain winning probability values are found. The indicator even offers an option for getting mobile push notifications.
When an option contract you have opened using the indicator goes your way, the BOSS Indicator puts a tick on the chart. When it does not, the indicator puts a cross. There is also a counter that tracks all wins and losses. You can even simulate trading results based on your chosen parameters so that you can get a feel of how effective the indicator is for a particular instrument at that point in the trading day with a given risk setting.
The BOSS Indicator is also very easy to run, and the entire installation process should take about 2 minutes. So, you don’t need to be a pro in writing MetaTrader scripts to make it run properly. The success rate you get with your trading will depend on the risk level you take. If you set the probability higher, you will get better win rates. Of course, this will also mean getting less signals.
BOSS Indicator – Forex Pairs Supported
BOSS Indicator can work on 10 forex pairs (4 majors and 6 minors), although it is recommended that you use it on certain currency pairs, particularly the EUR/USD pair. You can even run it on numerous currency pairs at once, at every hour of the trading day.
BOSS Indicator PlugIns and Automated Trading Support
The indicator also comes with plugins that can offer better visual confirmation for various market events. For instance, there is a support/resistance plugin that will show you how the current price compares to support and resistance levels and so forth.
The best part is that you do not have to program the plugins, since the neural coding that this indicator features optimizes them automatically. Some of the plugins will even work seamlessly with your automated trading accounts with Trade4.me and even SignalCopier.com, which is great if you love automated binary options trading.
The creators of the BOSS Indicator recommend using it with EU regulated brokers StockPair or Banc De Binary for traders based outside the US and CTOption for US-based traders. If you open a new account and make a deposit with one of the recommended brokers through their site, you will get the BOSS Indicator for free. Alternatively you can purchase it for a onetime fee of just $249.
Binary options traders could certainly benefit from a broader choice of indicators targeted specifically on this form of trading. BOSS Indicator not only helps meet this need, but it also delivers quality that certainly makes it stand out among proprietary and traditional financial indicators currently in the market. This indicator can help you achieve better trading success, and the fact that it can support automated trading is a definite plus.