Last Updated on July 13, 2020 by Tim Morris
Urban Towers Forex Trading Strategy
The urban towers forex trading strategy is a strategy that works on a 15-minute or higher timeframe and suitable in all currency pairs. This method is based on the rainbow indicator.
MT4 Indicators:
- Rainbow 7
Description: During a trend, when the market retraces to the blue MA with at least 3 consecutive lower highs (3 towers), we enter at the break of the high of the last high.
- Price is above the blue MA trend is up
- Price is below the blue MA trend is down
Long Entry:
- The market retraces towards the blue MA with 3 consecutive lower highs in an uptrend.
- Enter at the break of the high of the last candle.
Short Entry:
- Market retraces towards the blue MA with 3 consecutive highest Lower highs in a downtrend.
- Enter at the break of the Low of the last candle.
Exit Position:
- When the price is below or above rainbow 7.
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