The ASO Forex signals oscillator for Metatrader 4 is a true winning trend-following oscillator that is simple to understand.
The ASO trading oscillator consists of two signals lines that cross each other.
Each crossover indicates that the trend has reversed to the opposite direction, either from buy to sell or from sell to buy.
- The trend is up when the blue ASO oscillator line crosses the red line upward.
- The trend is down when the red ASO oscillator line crosses the blue line upward.
ASO works best for scalping and day trading Forex pairs.
For swing trading, use the oscillator together with other technical indicators or price action.
Download This MT4 Forex Indicator Free
Download the “aso-indicator.ex4” Metatrader 4 indicator
ASO Forex Signals Oscillator Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With ASO Forex Signals Oscillator Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Buy the currency pair when the blue ASO Forex oscillator line turns back above the red line from below.
Place initial stop loss below short-term support, or use your own stop loss placement method.
Close the buy trade when the red ASO Forex oscillator line turns back above the blue line.
Alternatively, take profit at predetermined profit target, for example 25 pips on the M15 chart.
Sell Trigger: Sell the currency pair when the red ASO Forex oscillator line turns back above the blue line from below.
Place initial stop loss above short-term resistance, or use your own stop loss placement method.
Close the sell trade when the blue ASO Forex oscillator line turns back above the red line.
Alternatively, take profit at predetermined profit target, for example 11 pips on the M1 scalper chart.
Download This Forex Indicator Now
Download the “aso-indicator.ex4” MT4 indicator
Adjustable Parameters
Aso period, mode, bulls, bears, colors, width, style.
Usage
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: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend oscillator
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
