TradingView Indicator Free · Open source

Binary Option Strategy Tester (Basic)

A free, open-source binary-options tester for TradingView, with payout, expiry and up to 5 Martingale levels modelled properly.

Published 1 July 2023 · Updated 8 July 2023 · Version 2

Binary Option Strategy Tester (Basic)
Binary Option Strategy Tester on a EUR/USD 15-minute chart, with tables counting calls and puts, wins at each Martingale level, total profit and net P&L

Binary-options trading is restricted or prohibited in many jurisdictions, including for residents of India. This content is educational, is not directed at residents of jurisdictions where it is restricted, and does not recommend any broker.

In binary options, the result of a strategy depends on the expiry and the payout, not just on whether it called the direction right. This free tester models both.

Version 2 fixed bugs in specific settings of my first version and added features for binary-options testing.

How the test works

  • The trade opens at the open of the next candle after a signal.
  • The chart timeframe is the expiry. On a 5-minute chart, each option lasts one 5-minute candle.
  • A call wins on a green candle, a put on a red one.
  • One trade at a time: signals during an open trade are ignored.

Settings

Setting Default What it does
Call / Put Both Test calls, puts, or both
Martingale levels 2 Up to 5 levels
Martingale trade type Same Same, opposite, follow candle colour, or opposite candle colour
Use specific session On Only trade inside the chosen session
Investment per option 10 Stake per trade
Payout 80% Return on a winning option

Test your own strategy

The sample strategy comes from Vdub Binary Options SniperVX v1 by vdubus, trimmed to the essentials. To test your own idea, open the script’s code and paste your logic into the marked comment area: buy conditions in is_call, sell conditions in is_put. Leave the rest of the code unchanged.

Good to know

  • Works with binary options as traded on IQ Option and similar platforms.
  • At an 80% payout you need to win more than 55.6% of trades to break even. Check that before you look at anything else.
  • Want longer expiries, up to 15 Martingale levels, date ranges, and daily and monthly statistics, without editing code? See the Ultimate Backtester.

Binary-options trading is very risky. Past results of any system don’t indicate future results.

Examples

On the chart

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Educational tool only, not investment advice. Statistics and backtests describe past data and do not predict future results.