The Volatility Mins indicator for TradeStation or Multicharts plots a green histogram bar if price is moving more than “X” amount.  The “X” is decided by using the strike width of the binary options.  For example, the EURUSD 2 hour binary option strike width is 4 pips.

THD Volatility Indicator for Trading Binary Options

The indicator should always be used on a timeframe that matches the binary option expiration.  For example, if trading 5 minute binary options, insert the indicator on the 5 minute chart.  If trading the 2 hour binary options, insert the indicator on the 120 minute (2 hours) timeframe.  If using the daily binaries, insert the indicator on the 480 minute timeframe for currencies (daily for indices).

The Volatility indicator only has one input, which identifies the minimum you want the instrument to move.  If using on forex, make sure you add a “0” for the half-pip.  For example, if you are using the 12 pips for the 2 hour binary options, you would type in 120.