With the extreme popularity of the expert advisors used on the MT4 in the forex market starting from 2006, it was only a matter of time before traders ingeniously discovered ways to trade the binary options market on autopilot. One of the solutions found was to develop an MT4 to Binary plug-in. What is this all about?
The concept sounds simple, but it is actually slightly complicated. The principle is to use the MT4 platform to perform trade analysis on any asset of choice. When the signals are obtained on what behavior the asset price is to assume, the trader can take these trading signals and have them executed automatically on the web-based binary options platforms.
Take for instance, the trader analyses the EURUSD on his MT4 platform, and his analysis shows that the EURUSD which is currently at 1.3490 will rise to 1.3540 in a few hours. The signal will then be read and copied to the binary options platform to read thus:
- CALL EURUSD @ 1.3490: expiry time in “x” hours.
This permits the trader to trade binary options completely on autopilot. This also allows the trader to have several advantages that accrue from MT4 trading. Some of these advantages are as follows:
a) The platform can be connected to a Virtual Private Server (VPS) and an expert advisor plugged into the platform. Signals can then be generated by the expert advisor even when the trader is offline, and same can be transmitted to the binary options platform for execution. If your broker offers binary options as an MT4 plug-in, then the process is made even easier.
b) Many MT4 platforms not only list currencies, but also stocks, indices and commodity assets. Traders who would love to trade several asset classes in the binary options market will find this very useful indeed.
c) When it comes to indicators and charts, not many platforms can boast of the wide array of tools that the MT4 has. It is a technical trader’s heaven.
So how exactly can you create a plug-in to connect your MT4 platform to your binary options platform, copying all your trade signals and executing them automatically so you don’t have to do same manually? Here is how to go about it.
The first step is that you have to create a strategy that works. You must devise a way of detecting tradable signals. This means being able to analyze the market for opportunities. This step may involve the creation of an expert advisor.
Now you need a programmer who can take the strategy or expert advisor you have created, link the MT4 platform to the web-based platform, and develop the software which will communicate from your MT4 to your web-based platform. If you are looking for a programmer that can do the job, then I would advise that you look no further than the MQL5 community. Their website is accessible and a simple search in the “Jobs” category will produce a programmer that can do this.
Take the completed software and apply it to the market for your desired results. If you so desire, you can sell the product to the teeming population of traders who are looking for a way to get access to such revolutionary software that solves a market need.
Endeavour to test the software thoroughly to see that it is free from bugs that would affect its smooth function. Most of the autopiloted MT4 to binary platform plug-ins in the market have been optimized for the SpotOption turnkey solution. You may decide to start from there.