Launching the MXI Binary Options indicator on the Binary Dashboard

Blue Sky Binary

Dear all,

We launched the Micro-Extreme indicator (MXI) on the Binary Dashboard this week.

Join us on our webinar this weekend on 26th June (Sunday) at 3pm CET time (2pm UK), to see how it can assist you in your binary options trading.

Registration URL: https://attendee.gotowebinar.com/register/7450575938752665604

You will also have the opportunity to ask questions at the end.

Team Blue Sky Binary

The_Geek_MH

YOu could tell us a little bit about here... it is after all what the forum is for... then if we like what you say maybe someone will sign up for your webinar. Just saying.

Blue Sky Binary

The_Geek_MH said:

YOu could tell us a little bit about here... it is after all what the forum is for... then if we like what you say maybe someone will sign up for your webinar. Just saying.

Hi Michael,

Thanks for your question. In summary, the MXI fires when an asset has experienced a price move in excess of it’s usual statistical range. In theory, therefore, it should face a reversal which may last anywhere from 5-30 minutes. It builds upon principles of oscillators such as RSI, however has additional parameters that make it a potentially smarter oscillator. It is not to be used in periods of heavy news, however, it can be used for both binary options and FX trading. It is suggested to trade this indicator using demo money with no martingaling and once one experiences sustained profit, to move to a live account, using sound money management.

Here is the webinar recording, conducted by one of our senior traders this weekend:

https://youtu.be/_VlkfZZK1sU

Thanks,
Team Blue Sky Binary

The_Geek_MH

Interesting. Moves outside the norm are often great signals. My next question, is there some kind of filter to weed out signals that are going to reverse as you say, from those that indicate a new trend? I ask because Bollinger Bands perform a similar function, the problem most newbies have with it is that sometimes a move outside the band means a retracement is coming, and sometimes it means a new trend is forming and prices will keep moving in the direction of the break out.

lotzofbotz

Indicators don't equal trades imo it is a cool tool but if you use it like a fool you will be the tool... *starts a rap song

The_Geek_MH

You are right, they only lead you to make a decision in one direction or the other. Based on what I hear this one has as much chance of issuing a false signal as it does a good one, just like I described with BBands... I'd like to know more.

Blue Sky Binary

The_Geek_MH said:

You are right, they only lead you to make a decision in one direction or the other. Based on what I hear this one has as much chance of issuing a false signal as it does a good one, just like I described with BBands... I'd like to know more.

The webinar, the recording of which is posted above, details ways of filtering out the 'noise' or bad indications. We suggest viewing it.

In short, performing a quick multi-time frame (MTF) check on the 5m chart helps filter the indications that have fired too early (this is pointed out with an example in the webinar). The other, more advanced method, is to simply apply Core 4 theory, which all our students (Newbies or not) learn in the Blue Sky Binary TU (Trader University). You mentioned Bollingers; we teach Bollinger and S/R theory in the early part of the course. As for the MXI, a indicator reading coupled with divergence on the bands may be ominous of a further trend (not a reversal), whereas flattish on convergence could indicate a powerful reversal.

We have a range of indicators for different types of Bollinger Band formations in the Dashboard; but no, the MXI does not redouble the efforts of a standard bollinger band reversal indicator.

If we can be of any further assistance, feel free to reach out to us at support@blueskybinary.com.

Team BSB

gabman

any reported average win rate vs trades taken?