The ASCTrend indicator for MT5 is an awesome trend-following Forex indicator that works really well to make profit from currency trading.
ASCTrend identifies buy and sell trade opportunities across all currency pairs and time frames.
Buy and sell trends from the ASCTrend Forex indicator works as follows:
- A blue ASCTrend bullet represents a new buy trend.
- A magenta ASCTrend bullet represents a new sell trend.
Feel free to experiment with the ASCTrend risk parameter.
The ASCTrend indicator works for any trade style, including scalping, day trading and swing trading.
Deploy the ASCTrend MT4 indicator on any currency pair, stocks, indices, Gold,…
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ASCTrend Forex Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 5 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With ASCTrend Forex Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a new buy trade order when the ASCTrend indicator for Metatrader 4 paints a blue colored bullet on the chart.
Place stop loss below previous swing low support, or use your own stop loss placement method.
Exit the ASCTrend buy trade for a reward to risk 1.5:1 ratio or use a fixed profit target, for instance 25 pips on the 1-min scalper chart.
Sell Trigger: Open a new sell trade order when the ASCTrend indicator for Metatrader 4 paints a magenta colored bullet on the chart.
Place stop loss above previous swing high resistance, or use your own stop loss placement method.
Exit the ASCTrend sell trade for a reward to risk 1.5:1 ratio or use a fixed profit target, for instance 50 pips on the 30-min day trading chart.
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Risk, colors, width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, RSI,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT5
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend
Copy and paste the indicator in the MT5 indicators data folder.
Then restart the MT5 terminal and attach it to any chart.