BOW Indicator is based on the indications of several standard indicators, such as Bollinger Bands, EMAs and RSI. According to the developers, they developed a highly effective algorithm that takes into account the trend reversal, market fluctuations and outbursts, so you can avoid unnecessary losses and get a high-yield tool for binary options trading. Now a little more ...
Characteristics of the BOW Indicator
- Platform: Metatrader4
- Asset: Any currency pair
- Trading Time: Around the clock
- Timeframe: M1
- Expiry: 3 minutes (or 5 min)
- Recommended broker: Alpari, FinMax, Binary.com
Rules of trade by BOW Indicator
BOW Indicator detects price reversals, and then confirms them using several methods. It also uses several filters to avoid false signals. When the indicator detects a change in the direction of the main trend, it will confirm this with the Stochastic Oscillator in overbought and oversold levels. This helps confirm that there is a trend reversal. As soon as all conditions are met, the indicator draws the arrow CALL or PUT on the chart. According to the developers, you should take the deal as soon as you see the signal - do not wait until the candle closes. Arrows of pink and turquoise color mean a stronger signal.
Recommendations from developers:
"Setup: On your on broker, set Bolinger Bands and RSI at default values.
STEP1: open 4 assets (the ones with the biggest win profitability) and drop the indicator over them and set the candlestick period to 1 min.
STEP2: wait for the signal from the indicator.
STEP3: don't place the trade right away, wait for at least 10-15 seconds and watch if the market is still going in the same way.
STEP4: at the same time, the graph should break the RSI and BB and there should be at least 3 candles of the same colour.
If all these things happen, it means that a trend reversal will follow. Take your time even if it means missing some good trades, there are a lot of signals and you should try to catch only the best ones.
LAST STEP: set the expiry time to 3 min and place the trade! (if your broker does not allow for that expiry you should go for 5 min expiry).
OBS: Don't worry if you get more than one signal in a row on the same asset, it just means that you should wait a little longer before placing the trade, because the trend is still going in the same way."
Very important! For a successful trade with BOW Indicator requires broker that does not create delays in the opening positions and has a zero spread. That is a broker FinMax. In addition, FinMax regulated by IFMRRC:
In the archives BOW_Indicator.rar:
- BOW indicator.ex4
- BOW Indicator V2.0.ex4
- BOW v1.0 template.tpl
- BOW v2.0 template.tpl
Free Download BOW Indicator v1.0 and v2.0