How to databind with a converter in code?

So far I have:

            Label notValidLabel = new Label()
            {
                Text = "*",
                TextColor = Color.Red,
                Font = Font.SystemFontOfSize(20,FontAttributes.Bold)
            };
            notValidLabel.SetBinding(Label.IsVisibleProperty, new Binding("IsValid"));

And I would like to add an InverseBooleanConverter to the value of IsValid. But I am not sure How to do this?

My converter looks like this:

    public class InverseBooleanConverter : IValueConverter
    {
        #region IValueConverter Members

        public object Convert(object value, Type targetType, object parameter,
            System.Globalization.CultureInfo culture)
        {
            if (targetType != typeof(bool))
                throw new InvalidOperationException("The target must be a boolean");

            return !(bool)value;
        }

        public object ConvertBack(object value, Type targetType, object parameter,
            System.Globalization.CultureInfo culture)
        {
            throw new NotSupportedException();
        }

        #endregion
    }