The Current and Accumulative Swing Index Metatrader 4 indicator is a great tool for confirming market trends.
It is also used when traders want to gauge the breakout potential of a defined market.
The indicator has a middle zero-horizontal reference level, and when the indicator depicts positive/negative readings, it is showing a probable bullish/bearish market trend.
The Current and Accumulative Swing Index indicator is essentially a running total of the Swing Index.
Key Takeaways
- A trend line can be drawn on the indicator and price to confirm trend and price convergence.
- In a bid to best understand the underlying forces in the market, more attention should be paid to position of the Current and Accumulative Swing Index indicator line relative to the zero-horizontal level.
- Users could consider taking up buy/sell positions when the Current and Accumulative Swing Index breaks above/below a downward/upward trend line respectively.
- When price is in a consolidation period, a trend line break above/below resistance/support level is pointing to a likely bullish/bearish trend respectively.
Feel free to explore the Current and Accumulative Swing Index Forex indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “current-and-accumulative-swing-index.ex4” Metatrader 4 indicator
Current and Accumulative Swing Index Forex Indicator Chart (CAD/CHF M15 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Current and Accumulative Swing Index MT4 Indicator
Buy Signal: Go long when the green line of the Current and Accumulative Swing Index indicator gets printed above the zero-horizontal level.
When the blue line of the Alligator indicator crosses below its lime and red lines in a bottom up fashion, it is a buy signal confirmation.
Sell Signal: Go short when the green line of the Current and Accumulative Swing Index indicator gets printed below the zero-horizontal level.
When the blue line of the Alligator indicator crosses above its lime and red lines in a top downward manner, it is a sell signal confirmation.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the green line of the Current and Accumulative Swing Index indicator dips below the zero-center line. Else, when the lime and red lines of the Alligator indicator intersects, it is an exit confirmation.
Exit sell trade: Close all sell orders if while a bearish trend is running, the green line of the Current and Accumulative Swing Index indicator surges above the zero-center line. Else, when the lime and red lines of the Alligator indicator intersects, it is an exit confirmation.
Tips: The Current and Accumulative Swing Index MT4 Indicator is best used as a confirmation tool with together with other technical indicators and charting patterns such as trend lines, support and resistance.
Download This Forex Indicator Now
Download the “current-and-accumulative-swing-index.ex4” MT4 indicator
Adjustable Parameters
Index Type, display mode, the number of bars to display.
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/Divergence
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
