Urban Towers Scalping Strategy

Trading Systems Free Forex Trading Systems
1

Name : Urban Towers Scalping Strategy by urbanforex
Indicators : Blue MA
Time Frame : 15min

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. Ok let me explain in details one by one.

Steps to Follow :

  • Price is above the blue MA trend is up
  • Price is below the blue MA trend is down
  • Market retraces towards the blue MA with 3 consecutive lower highs (in a uptrend)
  • At the break of the high of the last candle, we enter long (in a uptrend)

Trade Example Number 1

Alright, what do we know right off the bat by looking at this. We know the market is in a uptrend because the market is above the blue MA. The market retraced to the blue line with 3 consecutive lower highs (3 towers) as we can see the red candles above. Next, we entered long at the break of the high of the last retracement candle - which in this case is 3rd tower as we can see above. Ok 1 more example for you guys :slight_smile:

Ok now here is a example of a no good trade.

Alright, in this example, the market was in a uptrend, it did a 1, 2, 3 tower retrace but it never had a breakout on the high of the 3rd tower, in fact, the market continued down and changed to a down trend. This example is to show that this strategy helps avoid many fake trades.

I hope you like it ! Let me know if you have any questions.

  • Navin
2

Looks interesting, but which ema is that?

3

[QUOTE=jado911;92196]Looks interesting, but which ema is that?[/QUOTE]

Hey jado911,

Sorry I forgot to attach the indicator files. Hope that helps.

  • Navin
    urbanforex
4

USDCAD 15 min trade on Friday.

5

Thanks for sharing!

7

USDCHF 15min on Friday

Entry on the break of the white line after tower #3.
Stop loss at the red line.

Max Potential : +34 pips

8

EURGBP 15min Trade on Friday

Entry at the break of the white line after tower #3.
Stop loss at the red line.

Max potential : +50 pips

9

EURJPY 15min Trade on Friday

Entry on the break of the white line after tower #3.
Stop loss at the red line.

Max Potential : +65 pips

10

AUDJPY 15min Trade on Friday

Entry on the break of the white line after tower #3.
Stop loss at the lowest low as shown by the red line.

Max Potential : +44 pips

11

I saw your method
do you propose trade plans ?
is it possible to be in contact by skype or msn messenger ?
thank you I begin in forex trading :):):slight_smile:

13

Hi urbanforex,
I want to test your sys with my acc, pls tell me the combination of blue MA, as I don’t use MT4. Tks and good trade

14

I’m not quite sure of the MA settings. This was just a indicator I found in my indicator box. If you find out let me know.

  • Navin
18

What makes a trade more conservative or aggressive?

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Hi Curien

If there are only 2 consecutive lower highs then its a aggressive entry. If there are at least 3 consecutive lower highs then its a conservative.

I hope that makes sense. Please refer to the picture to get a better understanding.

  • Navin
    urbanforex
20

So according to that, for the 2 trades below, you considered the first one conservative because there are 3 lower highs before entry on the 4th bar,… for the second you considered it aggressive but I also see 3 lower highs before entry on the 4th bar…so I’m a little confused :confused:

21

I understand your entires but why do you call them that the look the same

22

What are the actually Moving Averages being used?

I trade from my cellphone during the day and this custom indicator for me isn’t an option. This looks good enough to demo for a bit.

23

Hi
I looked at the indicator he posted and it uses 6 ema’s from 37-50.

I’m also demoing this one because it kinda fits with what I’ve been doing in the past, and because it gives me a stop loss strategy. I made a live trade with it finally on Friday and it was successful so I feel good about it probability wise.

I made my own indicator that actually marks the candles with a 1,2,3 and includes an alert when price breaks past the high/low of the 3rd candle. I don’t know if I necessarily need the ema’s…a trendline does ok too and I’m also experimenting with an auto drawing linear regression channel.

I’ll try to post a chart later tonight.

:slight_smile:

24

In the interest of fellowship, care to share your custom design?

25

At the moment I’m at work and the indicator is at home, so could do so later tonight. Actually I thinking of starting my own thread on it because I am using some other indicators too. If I do, it’ll be called the T-Bar-3 method (I think)…gotta give your method a name I’ve heard…lol

:smiley:

1 Like