# Binary Option Arrows (example) [TheMightyChicken]

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An example of binary option arrows for candlestick patterns bearish and bullish harami. With results as colored background and an option to choose your expiration ( one candle by default). It's just an example for those who has their own strategy and wants to make nice arrows in their chart. All you need to do is rewrite piece of script in lines 9:13 - feel free to ask me for any help, but I believe it's all clear.

Disclaimer: It's just an example how to script arrows for binary option and I am not responsible for any loss of money by using this particular strategy.

I wish happy and successful trading! ;)
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
```// Made by TheMightyChicken
// An example of binary options signals with results - colored background of expiry candle. (green = WIN, red = LOSE)
// Arrows set for bearish and bullish harami candlestick patterns. (credits to repo32)
// Expiration set to 1 candle by default.
study(shorttitle="BOA", title="Binary Options Arrows (example) [TheMightyChicken]", overlay=true)
// Inputs
E = input(1, minval=1, title="Expiry")
// Calculations
Bearish_harami = (close[1] > open[1] and open > close and open <= close[1] and open[1] <= close and open - close < close[1] - open[1] and open[5] < open)
Bullish_harami = (open[1] > close[1] and close > open and close <= open[1] and close[1] <= open and close - open < open[1] - close[1] and open[5] > open)
// Setups
CALL = Bullish_harami == 1
PUT = Bearish_harami == 1
ARROW = CALL - PUT
plotarrow(ARROW, colorup=lime, colordown=red, transp=0, minheight=10, maxheight=10)
// Results
WIN = (CALL[E]==1 and close[E]<close) or (PUT[E]==1 and close[E]>close)
LOSE = (CALL[E]==1 and close[E]>=close) or (PUT[E]==1 and close[E]<=close)
bgcolor(WIN==1 ? lime : LOSE==1 ? red : na, transp=70)```

Hi what this suppose to mean? "colored background of expiry candle. (green = WIN, red = LOSE)" I don't understand those colored background lines... help!
xanderusa
@xanderusa, long or short
// An example of binary options signals with results - colored background of expiry candle. (green = WIN, red = LOSE)
// Arrows set for bearish and bullish harami candlestick patterns. (credits to repo32)
// Expiration set to 1 candle by default.
study(shorttitle="BOA", title="Binary Options Arrows (example) ", overlay=true)
// Inputs
E = input(1, minval=1, title="Expiry")
// Calculations
Bearish_harami = (close > open and open > close and open <= close and open <= close and open - close < close - open and open < open)
Bullish_harami = (open > close and close > open and close <= open and close <= open and close - open < open - close and open > open)
// Setups
CALL = Bullish_harami == 1
PUT = Bearish_harami == 1
ARROW = CALL - PUT
plotarrow(ARROW, colorup=lime, colordown=red, transp=0, minheight=10, maxheight=10)
// Results
WIN = (CALL==1 and close<close) or (PUT==1 and close>close)
LOSE = (CALL==1 and close>=close) or (PUT==1 and close<=close)
bgcolor(WIN==1 ? lime : LOSE==1 ? red : na, transp=70)
is it possible to make alerts for indicator?
This is great. I'm trying to learn Pine Script but will take a while. I was wondering if this could be applied to Lazy Bear's Wave Trend Oscillator?
Cookedaburra
@Cookedaburra,

with strategy tester