Bollinger Bands are very important. Bollinger Bands show the volatility in the market and are based on the principle that when price moves more than 2 standard deviations from the mean, it tries to revert back to the mean. With this basic information, you can trade binary options when price action hits either the upper or the lower band. This strategy has got around 70% winrate.
https://www.youtube.com/watch?v=xyrAtlY6xCU
As you can see in the above video, this strategy uses exponential moving averages and bollinger bands alongwith price action. Always first test the strategy on the demo account and try to see whether it works for you or not. Once you are satisfied with the strategy only then trade live with it.