The Boot Guns binary options strategy is an advanced trading approach based on a combination of a regression channel, a Value Chart oscillator, and powerful statistical analysis. A key role in this system is played by the main indicator , which automatically collects and processes signal statistics, displaying them in a clear table. This allows traders to see at any time which currency pairs and timeframes the strategy is performing best on.
In this review, we'll take a detailed look at how to use these tools to build profitable binary options trading.
Content:
- Characteristics
- Installation
- Overview and settings
- Boot Guns Trading Rules
- Specifics of application
- Conclusion
- Download Boot Guns
Characteristics of the Boot Guns Binary Options Strategy
- Terminal: MetaTrader 4
- Timeframe: M5
- Expiration: 2 candles
- Option Types: Call/Put
- Built-in indicators: BOOT GUNS V8.ex4, Tendencia.ex4, VALUE CHART.ex4
- Trading instruments: currency pairs , commodities, cryptocurrencies , stocks
- Trading hours: 8:00 - 20:00 (GMT+2)
- Recommended brokers: Quotex , Pocket Option , Alpari , Binarium
Setting Up the Boot Guns Binary Options Strategy
Boot Guns strategy indicators are installed in MetaTrader 4 using the standard method. First, open the terminal and select "File" → "Open Data Folder" from the top menu. In the window that appears, navigate to the MQL4 → Indicators folder and copy all indicator files there.
Move the bootguns.dll file to the MQL4 → Libraries folder. If the package includes templates, move them to the templates folder in the terminal's root directory.
After this, restart the platform for the new indicators and templates to appear in the list. For more detailed instructions, watch our video:
Boot Guns Binary Options Strategy Review and Settings
The Boot Guns binary options strategy is more than just a set of indicators, but a comprehensive solution for traders. One of the key elements of this strategy is the information panel located in the upper left corner of the chart.
It displays all active instruments from the MetaTrader 4 trading terminal's Market Watch list, grouped into four tabs based on timeframe: M1, M5, M15, and M30. Each tab represents a dynamic ranking of the strategy's trading performance over the corresponding timeframe, from the most to the least profitable assets.
This is a simple yet effective way to quickly determine which instrument and timeframe the strategy is currently performing best on. All a trader needs to do is select an asset from the list and start trading.
Please note: internal statistics are calculated based on the number of Japanese candlesticks trades last, specified in the expiration parameter ("Numero de candles"). Changing this value will recalibrate the asset ranking.
In addition to the main information panel, the Boot Guns strategy includes two auxiliary panels: one displays trading statistics, the other an economic calendar . Using these panels, traders can consider not only the trading strategy's internal indicators but also external factors that directly impact the market.
The statistics panel on the chart displays key strategy parameters for the selected timeframe: the number of profitable and losing trades, the total number of signals, and the percentage of successful entries. This information helps you quickly determine which assets and timeframes are most promising for trading.
Another useful panel is located nearby: the economic calendar. It shows when and for which currencies important news is released, along with its significance level. For convenience, simple markings are used: one star for minor events, three stars for truly important news that could impact the market.
The next element of the Boot Guns strategy is a regression channel constructed using the Tendencia indicator. It serves to determine the current market direction and allows for visual identification of potential reversal zones. The channel displays the boundaries of price movement, helping traders navigate the market structure and open trades in the direction of the underlying trend .
This regression channel has few settings, making it convenient and easy to use. Traders can choose which lines to display on the chart, set their colors, specify the number of bars for calculation, and configure alerts . These are particularly useful because they provide timely warnings of a possible trend reversal and help prevent missed entry points.
The final component of the Boot Guns strategy is the Value Chart basement oscillator. Its main purpose is to confirm signals from the main BOOT GUNS v8 indicator. Its settings allow you to set threshold levels that, when reached, increase the likelihood of a price reversal.
While we won't be using this indicator in this review, it's important to understand that it can act as an additional filter if needed and significantly improve the accuracy of your strategy's signals .
To increase your percentage of profitable trades, in addition to indicator signals, it's worth paying attention to candlestick patterns , which we've covered in detail in this collection of articles:
- Candlestick analysis and binary options.
- Japanese Candlesticks for Beginners and How to Read Them.
- Japanese candlesticks – graphical analysis.
- Using pin bars in binary options trading.
Boot Guns Trading Rules
You can use the signals from the Boot Guns binary options strategy in two main modes:
- factoring in the slope of the regression channel, opening trades exclusively in the direction of the current trend;
- or process all signals in a row, focusing only on the overall performance statistics.
Both approaches have merit and can be effective with the appropriate trading style. However, for the purposes of this review, we will focus on the approach that involves opening trades in the direction of the regression channel — that is, strictly in the direction of the current trend.
Opening a Call Option
- We are convinced of the presence of a bullish trend – the regression channel Tendencia is green.
- An upward arrow appeared on the current candle.
- At the opening of the next candle we buy a Call option.
Opening a Put Option
- We are convinced of the presence of a bearish trend – the regression channel Tendencia is red.
- A downward arrow appeared on the current candle.
- At the opening of the next candle we buy a Put option.
We recommend setting the expiration time to two candles. However, the optimal holding period depends on the specific asset and should be determined by you based on historical data testing results. This approach will help tailor the strategy to the specifics of the chosen instrument and improve its effectiveness.
Specifics of Using the Boot Guns Binary Options Strategy
In addition to the classic approach of opening trades in the direction of the current trend based on regression channel readings, the Boot Guns strategy offers an alternative, equally effective trading option.
In this mode, you can ignore the channel color and slope and focus on the performance rating data displayed in the dashboard. This approach allows traders to select the asset and timeframe on which the strategy delivers the best performance at any time.
This method is suitable for those who prefer to rely on statistics and work only with the most profitable signals , without being distracted by trend indicators.
The Pros of the Boot Guns Strategy
One of the undoubted advantages of this trading strategy is the availability of a trading signal effectiveness rating system across currency pairs and timeframes. With this tool, even a novice trader can quickly select the most promising assets for trading. The strategy's clear signals are also a plus. All a trader needs to do is respond to them promptly.
Cons of the Boot Guns Strategy
One drawback of the strategy is that trading signals can only be used for assets from the MetaTrader 4 terminal. Therefore, before trading using the Boot Guns binary options strategy, ensure the required assets are available in your binary options broker's terminal.
Conclusion
The Boot Guns binary options strategy will provide a solid foundation for beginner traders. Its powerful statistical analysis tools will always help you know which assets are performing best on your chosen timeframe. The regression channel will also keep you on track and help you open trades exclusively in line with the trend, which is crucial for those just starting out in binary options trading.
Before using this system for real-money trading, we recommend testing its signals on a demo account with a reliable broker. This will allow you to hone your skills without risking your deposit. Also, remember the rules of risk and money management – they play a key role in generating stable profits.
Good luck in trading!
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