Urban Towers Strategy – Awesome % Binary Options 2020

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Urban Towers Strategy – Awesome %

This strategy is coded onto one indicator and it is easy to determine director by looking at the direction of the arrows.

On the chart you can see 2 green arrows in an upward direction and the price is also moving up. The strategy works on trend following and only entering in the same direction the trend is moving after there has been a small retracement. The price needs to be above the Moving Averages and if the trend is upwards, look for Calls only. A retracement would be 3 candles with highs that are lower. Once the retracement shows, enter on break when the last candle’s high is reached (the opposite for a down trend). See diagram for a Call Entry using this strategy:

  • For a Call trade: Price above moving average, 3 or more candles with lower highs running consecutively, enter at break of last candlestick’s high.
  • For a Put trade: Price below moving averages, 3 or more candles with higher lows running consecutively, enter at break of last candlestick’s low.

Overview of this trading strategy

The arrows do not always occur, even when all conditions are met, so it is possible to miss a good trade with this strategy, so you should not only rely on this but look for trades yourself as well. Make sure your arrows are accurate before entering as this strategy can fail in ranging market conditions as well, and you could end up with some bad signals. It is a great trend following strategy and tends to be on the conservative side, meaning less chance of failure over all. It also allows for more than 1 entry in a trend, meaning profits can be increased on a single trend. Having the arrows as a visual makes this strategy look cleaner and less complicated as well.

Custom Indicators – Full Review of Urban Towers for Binary Options

“Urban Towers” – Point me in the right direction

Since the first custom indicator that I introduced to you guys was so well received, I decided to bring you today a whole strategy coded into one indicator. The best thing is that this indicator points you in the right direction as dictated by the rules of the strategy by drawing UP/DOWN arrows…Awesome, I know!

How to use “Urban Towers”

First, here’s a picture of how your charts will look like:

Notice the two green arrows pointing UP and notice how price…moves UP. Pretty cool; and I am sure you want to know how to quickly install the indicator on your charts and start trading right away. Well, I’m sorry but you have to put up with me and read a bit about the strategy itself. After all, if you would just place Calls and Puts according to the direction of the arrows without knowing the logic behind them…well, that would be just blind trading and that’s not enough for me. So here goes:

The strategy is based on simple trend following and entering in the direction of the trend after a small retracement. As long as price is above the Moving Averages we will consider that we are in an uptrend and look only for Calls. Now, we must wait for a retracement towards the Moving averages. The strategy defines a retracement as at least three candles with lower highs. Don’t worry, the picture is coming up. Once we have at least three of the described candles, we enter on the break of last candle’s high. For a downtrend entry, everything is reversed. Check the picture below to see a valid Call entry:

Here’s a brief summary for a Call entry:

  1. Price is above the Moving Averages
  2. We identify at least 3 consecutive candles (more than three is good too) with lower highs
  3. We enter at the break of the last candle’s high

And the rules for a Put:

  1. Price is below the Moving Averages
  2. We identify at least 3 consecutive candles (more than three is all right) with higher lows.
  3. We enter at the break of the last candle’s low

That’s it for the strategy itself, guys and of course the good news is that the indicator will do all the hard work for you, check if all the rules are met and print a corresponding arrow. But for that we need to install it on our Meta Trader 4 platform, right? So, more work ahead. Download the indicator and transfer it in your Meta Trader 4 “indicators” folder. For that, you need to follow the path C:\Program Files\The Name of your MT4 Broker\experts\indicators This path is valid if you installed MT4 on drive “C:\”. If it’s somewhere else, look for your “Indicators” folder and paste the new custom indicator there.

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Once you did that, close your Meta Trader platform, reopen it and follow these steps: click on Insert – Indicators – Custom – Urban_Towers. Now your chart will have the 6 Moving Averages on it and arrows will be printed when a Call or Put condition is met. Below you will find a visual representation of the steps described.

Why does “Urban Towers” Suck?

I have noticed that sometimes, even if the conditions are met, the arrow does not appear. That sucks, because I’ll potentially miss some good trades. To overcome this disadvantage, we must make sure that we always look for trade setups ourselves and not rely only on the arrows. Also, when an arrow appears, check if all the conditions are met before entering. Being a trend following system, it’s more likely to fail in ranging market conditions and give some bad signals, but then again, nobody’s perfect.

Why “Urban Towers” doesn’t Suck?

First and most important reason it doesn’t suck is because it’s a trend following strategy and entries in line with the trend are always more conservative and with more chances of success. Even better is that it gives me more than one entry in a trend, allowing me to increase my profits if the trend continues. I cannot help but mention the simplicity of trading using the visual help of the arrows. So we have a trend system and the arrows to indicate the entry. Simple and clean.

The clear conclusion

I like it! Yes, it’s not the Holy Grail and it will give bad signals. But it’s easy to trade and I get some extra confidence when I see the arrows agreeing with my opinion on a trade entry. Just because I like it, it doesn’t mean you have to so install it and test it on a Demo account. Don’t think I forgot about the fact that you still don’t have the actual indicator. It is already available for free download on our Forums and at the bottom of the page. Enjoy!

Keep Discussing about Urban Towers Indicator with Bogdan and more Traders on our Forum!

Binary Options Tools

Everything you need to trade binary options successfully, all in one place and all explained in detail! In this section, you will find our in-depth explanations and reviews for the most profitable binary options trading tools and indicators out there. Understand and learn how to use them to your advantage!

Tools
Service name Level Like Suck
Japanese Candlesticks 25 1
Mega Trend Indicator 11 0
Bollinger Bands Indicator 25 0
Ease Of Movement Indicator 2 0
Live News Indicator 6 0
Relative Strength Index 6 0
Time Series Forecast Indicator 9 1
Average Directional Movement 9 0
Trade Assistant Tool 20 1
Support Resistance Indicator 0
Urban Towers Indicator 6 0
Binary Options Economic Calendar 8 0
TMA Indicator 9 1
Keltner Channels Tool 3 0
Convergence of Indicators 2 0
Paint the Town Red 2 0
Fisher Transform Indicator 14 0
Zig Zag Indicator 4 0
Directional Movement Index 2 0
The Autochartist Tool 13 1
Heikin Ashi Candles 22 2
TiG Wave Indicator 2 3
Risk Management Calculator 4 1
CCFP Indicator 4 0
The Fibonacci Tool 10 0
Quickfib Indicator 9 0
Harami Reversal Patterns 3 0
Average Daily Range Tool 3 0
MA Convergence Divergence Tool 17 1
Time VIII Indicator 7 0
High Low Moving Average Indicator 1 0
The Divergence Tool 14 0
Twiggs Money Flow 1 0
Chart Pattern Recognition Tool 21 0
Historical Chart Tool 4 0
The Force Indicator 6 0
US Dollar Index Tool 1 0
Parabolic SAR Tool 6 0
Pinbar Detector Indicator 3 1
The Strategy Tester 24 0
Pivot Calculator Tool 2 0
Stochastic RSI Indicator 3 0
Balance Of Power Indicator 2 1
Basic Price Channels Tool 4 0
Financial Calendar 5 0
Big Table of Currency Correlation 9 0
Currency Strength Indicator 5 2
AutoTrader Signals 7 0
Chart Patterns Tool 21 0
MetaTrader4 25 1
Historical Charts 4 0
Volatility Tool 4 0
Linear Regression Channel 4 0
Standard Deviation Channel Indicator 2 0
Ichimoku Indicator 9 2
Retracement Finder Indicator 9 0
Pivot Points Tool 11 0
Accumulation/Distribution Line Tool 1 0
The Advance Decline Indicator 1 0
Alligator Tool 5 0
Momentum Index Tool 3 0
Awesome Oscillator Tool 5 0
Donchian Channel Indicator 5 0
The Divergence Tool 14 0
RSIMA Binary Options Tool 4 0
DSS Bressert Indicator 14 3
Dynamic Zone RSI Tool 4 0
Ease Of Movement Indicator 2 0
Stochastic Divergence Tool 3 0
Japanese Candlesticks 0
Jensen’s Alpha Indicator 2 1
JMA Ribbon Binary Options Tool 11 2
KDJ Stochastic Indicator 15 0
Keltner Channels Tool 3 0
Linear Regression Curve Indicator 4 0
Moving Averages 13 1
Multiple Time Frames Indicators Series 44 5
NetDania ChartStation 11 1
Roll Over and Close Now Tools 6 1
Stochastic Oscillator Tool 3 0
The Aroon Oscillator Indicator 2 0
The Commodity Channel Index Tool 3 0
The must have Trading Tool 6 0
The Option Builder Tool 3 0
The Ultimate Oscillator 2 0
TiG Wave Indicator 2 3
Traders’ Dynamic Index 66 10
TradingView’s Free Charting Package 13 0
ULTRA TMA Tool 5 0
Volume Flow Indicator 7 0
Volume Indicator 5 0
Wilder’s Smoothing Tool 2 0

Trading Tools and Indicators

I have met a lot of traders who trade with just a naked chart and no indicators at all. Their argument is that all indicators are derived from the price itself and lag behind it. Indeed, all indicators use price to calculate their values. But does that make them useless? Not by far. Indicators help us filter out the noise in the market and show us the big picture at a glance by smoothing the price movement. Well, at least some of them do, because there are a lot of “bad apples” among all the tools and indicators available out there. So let’s see what we can choose from.

Old School Indicators

Some of the most respected and widely used indicators still remain the old ones, invented by the real market gurus: John Bollinger invented Bollinger Bands in the 1980s, George Lane, together with a group of futures traders, created the Stochastic in the 1950s. In the 1970s, when everybody was smoking weed and listened to The Doors, Gerald Appel was working on his masterpiece: the MACD. Of course, I couldn’t forget about the man who created the Relative strength Index, J. Welles Wilder. These are, in my opinion, the bread and butter of a technical analyst. Everybody who wants to have a good understanding of the technical aspect of the market must learn about these indicators in detail. There are other important and useful indicators, and just because they are not mentioned here doesn’t mean they are not good enough.

New School Indicators

These are the fancy indicators, developed more recently, but most of them are just modifications of the old ones. However, there are new tools that can really help a trader, although they don’t show price direction. Among these tools you will find trend lines or Fibonacci levels that are drawn automatically on the charts and also software that can recognize chart patterns or candle formations. There are so many indicators these days that choosing the right one can be quite daunting sometimes. First of all, you must know why you are going to use that indicator. Will you use it for trend recognition or for timing the entry better? Or maybe you will use it to tell you when to close your trade early. Once you know what you are looking for, you will probably find indicators to help you specifically with these.

The Repainting Indicators

These are the ones that everybody tries to avoid… because they lie. By repainting indicators, I mean the ones that look good if you check back on the charts because they will “adjust” themselves even after several candles are closed. That makes it look like they give amazing signals but if you watch them in real time, you will see how they adjust to fit the market… after the market has already moved. That makes them almost completely useless because you will never be able to take the signals you see. To put it simply, if you scroll your charts back, they look like the Holy Grail and in real time they just Suck big time.

The “Puke” Indicators

These are mostly used by the scammers who try to sell you “a secret never heard before, used by major hedge funds and banks”. I am sure you received a lot of e-mails advertising this type of indicator. They try to mess with your head, advertising “easy and quick” profits, no experience needed, no financial knowledge… so you don’t need a lot of intelligence or education because the indicator they sell you will make up for all that. The indicator they advertise is so good that you actually can operate it even if you have a 2 digit IQ. And of course, it will bring you huge profits. To “prove” it, they show you a picture with some repainting indicator that looks great in hindsight, just like I said in the previous paragraph. The big disappointment will come after you actually purchase the “secret” indicator and realize that its only use is… well, actually this kind of indicator is as useful as “puke”. Just don’t buy anything from websites that sell you overnight riches for just $99.99. No indicator sold in this manner will help you with your trading in the long run.

Wrapping It Up

I think you need to find the right mixture or “recipe” when using tools and indicators. Some of them help you identify the main trend while others help you pinpoint the exact entry. Finding the right combination requires a lot of hard work and attention to detail. All indicators will give both good and bad signals and can fail if they are used on their own. Therefore, I don’t think that you can rely only on a single indicator to make big bucks in this business. Combine their strengths; and whatever you do, don’t waste your money, because almost all the best indicators and tools are free.

Every Newbie trader must learn to make use of various trading tools and indicators, and every experienced trader knows the true power of trading aids. Search for Binary Options Trading Tools and Indicators here.

Learn

There are so many Tools and Indicators out there. Some might suck, some are good for newbies or a must have and others should only be used by PROS. Browse trading aids by level and user ratings.

Choose

Trading Tools and Indicators are the elements that make the building, or in our case – the Trading Strategy. Choose the best trading aids to match your level of experience and style of trading. Remember – Even the Best Binary Options Tools and Indicators Suck Sometimes!

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  • Binomo
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