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).
