ASCTrend Trend Following Forex Trading System

ASCTrend System is a trend following Metatrader 4 system composed of three trading indicators. It provides forex signals for any currency pair. The ASCTrend1 indicator colors the bars according to the prevailing market trend.

The ASCTrend1Signal: main indicator in the system showing the signals for buy or sell (yellow and magenta). If the signal is repeated it simply means we can re-enter an additional buy or sell order in the same trend direction.

Time Frame (s): 1 Hour and above

Used Indicators: ASCTrend1, ASCTrend1sig, AscTrend2

Trading Strategy:

BUY Rules:

Initiate long trade if the currency pair trades above the magenta dots and a yellow arrow appears on the chart. Place stop-loss below the magenta dots. Trail stop below the last dots to lock in profits.

SELL Rules:

Initiate short trade if the currency pair trades below the purple dots and a purple arrow appears on the chart. Place stop-loss above the purple dots. Trail stop above the last dots to lock in profits.

Trading Example:

As you can see from the picture above, a short trade was initiated at 1.3092 on the EUR/USD weekly chart. The pair traded as low as 1.2019 (1000 pips move from entry).