Binary Destroyer trading indicator for TradingView – Complete Review

Finding a consistently accurate and profitable trading indicator often feels like searching for the holy grail in trading. The Binary Destroyer (BD) indicator by Fx Learning aims to be one such trading tool, now in its 8th generation. But does Binary Destroyer trading indicator for TradingView to its promises in real market conditions?

In this in-depth BD 8.0 for TradingView review, I’ll scrutinize its features, purported accuracy, user experiences, pricing, and advantages/disadvantages to determine if this indicator can truly give traders an edge or not.

Binary Destroyer trading indicator for TradingView

Overview – What is Binary Destroyer?

The Binary Destroyer is a technical indicator developed by Fx Learning claimed to identify high-probability entries and exits in forex and binary options trading. It purportedly analyzes price action across timeframes to determine trend, momentum, volatility, and swings.

Now in its 8th version, BD 8.0 builds on earlier generations of the indicator, adding features to supposedly boost accuracy and reliability. It aims to be an “indicator of choice” for achieving trading success. But does it deliver? Let’s analyze further.

How Binary Destroyer BD 8.0 Works

According to Fx Learning, BD 8.0 leverages proprietary algorithms to evaluate support, resistance, candle patterns,breakouts, and momentum across 55 currency pairs and commodities.

It aims to determine ideal entries and stop losses to maximize profit potential. The newest Version 8 includes zone recovery algorithms to enhance performance in ranging markets.

BD 8.0 evaluates all of this price data and then provides buy/sell signals and suggested stop levels directly on trading charts. Users can simply follow the indicator’s signals without needing deep analytical skills. But is it profitable?

Reviewing Binary Destroyer’s Claimed Accuracy

The core pitch around Binary Destroyer for TradingView focuses on its purported precision with up to 80% winning trades. However, my extensive research uncovers some inconsistencies:

  • No concrete proof of documented long-term live results at an 80% win rate
  • No mention of largest historical drawdowns or losing streak statistics
  • Potential conflict as vendor profits from more sales stemming from claims

Without undisputed evidence from verified third-party statements like MyFXBook, the lofty win rate claims remain questionable. These accuracy promises warrant skepticism without proof.

BD 8.0 Customer Reviews and Feedback

Looking at impartial customer reviews offers more unbiased insights into real user experiences. However, very few public BD 8.0 reviews exist, with most found on the vendor’s own website appearing biased.

However, searching through forex forums and review sites, a few users report erratic results, frequent losses, and the need for ongoing tweaking and optimization. This casts doubt on the purported ease of use and reliability.

The lack of impartial reviews on sites like Trustpilot makes assessing real-world performance difficult. Much more feedback would be needed to judge accurately.

Binary Destroyer Pricing

BD 8.0 pricing consists of a one-time fee of $399 for unlimited use across all pairs and timeframes with free lifetime updates, or a $69 monthly subscription.

These costs seem reasonably in line with similar-priced indicators I’ve reviewed. But without proof of accuracy or consistent profitability, the value proposition is questionable.

Can BD 8.0 Deliver Trading Success as Promised?

While Binary Destroyer 8.0 promises beginners an easy route to trading success through accurate signals requiring little analysis, some concerns exist:

  • Lack of transparency around origins of lofty 80% accuracy claim
  • Scarce documented evidence of users achieving stated win rate long-term
  • Potential over-reliance on indicator signals without proper risk management

For new traders, learning core analytical skills, paper trading, and money management remains essential in my view despite promises of easy profits. There are no shortcuts.

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Key Drawbacks to Consider

In addition to accuracy claims needing validation, a few other potential drawbacks:

  • Heavy focus on signals can distract from price action context
  • May discourage traditional technical/fundamental skill development
    -subjectivity in interpreting visual signals
  • Ongoing tweaks and optimizations needed reduces “set and forget” benefit

No indicator is perfect, and skills are still required to use BD 8.0 successfully based on user feedback. Over-reliance on any tool is unwise.

The Bottom Line on Binary Destroyer 8.0

BD 8.0 clearly contains helpful features and aims to provide an edge based on Fx Learning’s years of experience. However, the inability to independently verify accuracy claims raises doubts.

Without documented proof, I cannot comfortably recommend Binary Destroyer 8.0 as a wise investment compared to indicators with verified statistics and user results demonstrating an edge historically.

Of course, if performance transparency does emerge to validate claims, along with more impartial reviews, my assessment could certainly change. But as of now, too many open questions exist to suggest caution.

Author: Dominic Walsh

I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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