The ASC Trend Signal forex trading strategy consists of a smart buy/sell forex indicator and trading oscillator.
Currency traders are able to deploy this strategy in scanning the market for profitable entries on any currency pair and timeframe, from the 1 minute chart up to the weekly.
Chart Setup
MetaTrader4 Indicators: ASCTrend_BO.ex4 (Inputs Variable Modified; RISK=9), ATR_MA_Oscillator.ex4 (default setting)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minute, 30-Minute, 1-Hour, 4-Hour, 1-Day, Week
Recommended Trading Sessions: Any
Currency Pairs: Any pair
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Buy Trade Example
Fig. 1.0
Strategy
Long Entry Rules
Initiate a buy entry if the following indicator or chart pattern gets displayed:
- If the red upward pointing arrow of the ASCTrend_BO.ex4 custom indicator gets formed somewhat below the candlesticks as seen on Fig. 1.0, price is said to be pushed higher i.e. a trigger to buy the currency of focus.
2 If the dodger blue histograms of the ATR_MA_Oscillator.ex4 custom indicator gets displayed above the 0.00 level as illustrated on Fig. 1.0, the sentiment in the market is believed to be bullish, as such a buy signal is looming.
Stop Loss for Buy Entry: Place stop loss below trading support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit if the following rules or conditions takes precedence:
- If while a buy signal is ongoing the ASCTrend_BO.ex4 custom indicator display a magenta downward pointing arrow, it is an indication of weaning bulls power, as such an exit or take profit is advised.
- If the dodger blue histograms of the ATR_MA_Oscillator.ex4 custom indicator realigns to form below the 0.00 signal level, it is pointing to a possible return to downward pressures, hence an exit or take profit will suffice.
Sell Entry Rules
Enter a sell order if the following holds precedence:
- If the magenta downward pointing arrow of the ASCTrend_BO.ex4 custom indicator gets formed somewhat above the candlesticks as depicted on Fig. 1.1, price is said to be pressured lower i.e. a trigger to sell the designated forex pair.
2 If the dodger blue histograms of the ATR_MA_Oscillator.ex4 custom indicator pops up below the 0.00 level as shown on Fig. 1.1, the market sentiment is said to be bearish, as such a sell order is said to be appropriate.
Stop Loss for Sell Entry: Place stop loss above trading resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If while a sell order is continuing the the ASCTrend_BO.ex4 custom indicator displays a red upward pointing arrow, it is an indication of halting bears power, as such an exit or take profit is recommended.
- If the dodger blue histograms of the ATR_MA_Oscillator.ex4 custom indicator readjust to form above the 0.00 signal level, it is pointing to a possible return to upward pressures, hence an exit or take profit will do.
Sell Trade Example
Fig. 1.1
Free Download
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About The Trading Indicators
The ATR_MA_Oscillator.ex4 indicator is an OsMA type oscillator but interpreted as the ATR oscillator.
When its histogram breaks above the 0.00 signal level, it is known as a bullish signal and vice versa.
The ASCTrend_BO.ex4 custom indicator is used to deliver trading signals through the use of its upward and downward pointing arrows.