Urban Towers Indicator

Urban Towers Indicator

Urban Towers Indicator For MT4 is a forex trend following indicator with multiple moving averages. Provides multiple entry points in a trending market

The Urban Towers indicator for MT4 plots 6 moving average lines with incremental periods. These multiple lines help forex traders identify the trend direction. Moreover, they provide excellent entry points upon reversal and re entry points during a trend continuation.

The indicator works well for new and advanced forex traders. It works for all chart time and is effective for short and long term traders. Furthermore, this indicator is suitable for formulating automated trading strategies and does not repaint after candle close.

Urban Towers Indicator For MT4 Trading Signals

The indicator plots 3 blue moving averages and 3 green lines. Additionally, the indicator plots bullish trading signals as aqua up arrow and the red down arrows indicate bearish signals. The trading strategy is to enter the markets in the direction of arrows.

Traders should enter the market with a buy trade upon the appearance of the aqua arrow and place a stop loss below the previous swing low. Similarly, traders should enter sell positions in a red down arrow appears with a stop loss above the previous swing high.

The best strategy is to hold the trades and exit upon an opposite arrow signal. However, there may be multiple instances of sell or buy signals during a trend, in this case traders should add positions after carefully calculating the margin requirements. In a trending market multiple positions may provide excellent reward however they are equally risky.

Conclusion
In summary, the Urban towers indicator for MT4 is a multi moving average trend following indicator. However, traders should use price action to confirm the trading signals before entering the market in a trend reversal.