Before watching these videos watch this video first. It will save you a lot of dollars
Binary Hunter Intro and Charts Video :
New Beta Binary Scanner Video below :
TECHNICAL SETUP INSTRUCTIONS
The bars used are continuum bars, with a trend of 1, reverse of 3 and 1 minute for time. This is set up in the data series when you first set up the chart.
Then go to the bar style settings indicator and change the color of both the up and down bars to both be dodger blue. This will make the current bar you are plotting be blue until it closes. When it closes, it will turn the color of the current trend. This will help keep you from jumping into a trade before the bar closes.
In the toolkit, the template is called _Binary Hunter for 5mins or _Binary Hunter for 20mins.
When Binary Hunter with 5 minute binary expiries, you will need to change the way the forex ticks, i.e., 1/10 tick. That is ONLY for Binary Hunter, and ONLY for 5 minute expiries. To change the way the forex ticks in your charts, go to the Ninja Trader Control Center. Click on Tools, then Options, then Data and change the drop down menu to TenthPip as shown in the screenshot below.
Binary Hunter Entry Rules :
ONLY trade in direction of bar color (green bars mean buy / red bars mean sell). Orange bars mean chop. Orange bars may be a setup bar, but orange bars can never be an entry bar.
BUY: Only take buy signal if price is ABOVE the Gold line for a long. When the setup bar (orange or green bar) breaks above the gold line, the entry point is when the next bar is green and the high of that bar is exceeded by 1/2 tick (for 5-min expiries) On these charts, it looks like 5 ticks because these charts tick in 1/10th ticks. For any other expiration, the high must be exceeded by 1 tick. The entry point does not have to be hit on the next bar, it can be up to 5 bars later.
SELL: Only take sell signal if price is BELOW the Gold line. When the setup bar (orange or red bar) breaks below the gold line, the entry point is when the next bar is red and the low of that bar is exceeded by 1/2 tick (for 5-min expiries) On these charts, it looks like 5 ticks because these charts tick in 1/10th ticks. For any other expiration, the low must be exceeded by 1 tick. The entry point does not have to be hit on the next bar, it can be up to 5 bars later.
To take a reentry in the same direction you must have a pull-back and break through the blue line. This means the price action must touch the blue line for a buy and the confirmation line must have changed color indicating a pull-back for a valid re-entry.
An example of a VALID Long re-entry. The bars must remain above the Gold line for a valid long re-entry.
An example of a Long INVALID re-entry because the confirmation line did not change color.
Here is an example of a VALID Short entry:
The image below depicts and INVALID Short entry.
Max entry $80 risk. If ATM is available, that is preferred. Profit goal is $20-$25 a trade. There is no stop.
Take caution when Blue Line Crosses Gold line. Usually a trend reversal will happen.
Take caution entering right at a deviation level due to expected oscillation.
Take caution when volume has flown up and starts to back off as this will often lead to a pull back/consolidation.
Take caution entering a strike right at the top or bottom of an expected range.
You would also not want to enter a long at the top of the range.