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Accumulation Swing Index Forex Indicator

    The Accumulation Swing index Forex indicator (ASI) for Metatrader 4 is a technical study that was developed by Welles Wilder.

    The indicator finds its use in the trading of divergences and also as a confirmation tool.

    The long term trend of a financial asset can also be measured using the ASI.

    The ASI is essentially the accumulative total of values of swing indexes of each bar.

    The swing index is quite popular in the futures market, but also finds use in Forex trading.

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    Download the “ASI.ex4” MT4 indicator

    Example Chart


    The accumulative swing index offers an enhanced long-term outlook than deploying the basic swing index, which deploys data from just two bars.

    The accumulative swing index is positive when the long-term trend is upward.

    However, when the accumulative swing index is negative, the long-term trend is downwards.

    A sideways or non-trending long-term trend is depicted when the accumulative swing index fluctuates between negative and positive values.

    Besides using this indicator as a tool for confirming divergences, the ASI is also being deployed in the confirmation of break outs.

    This can be achieved by drawing trend lines on the ASI indicator along with corresponding trend lines on the activity chart.

    A breakout in prices from the trend line is confirmed when the ASI trend line breaks out.

    The values of look back period can be customized to reflect the trader’s preference.

    The line of the ASI indicator reflects real market price and as such we can draw support/resistance levels on it, with corresponding levels on the price chart to simply visualize price breakouts.


    Download the “ASI.ex4” MT4 indicator

    MT4 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 4

    Type: chart window indicator

    Customization options: Variable (T), Colors, width & Style.

    Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

    Type: oscillator, divergences, support/resistance

    How to install the Accumulation Swing Index custom indicator in Metatrader 4?

    • Download the Accumulation Swing Index indicator to your computer.
    • Open your Metatrader 4 platform.
    • Open the data folder from the top menu.
    • Open the MQL4 folder.
    • Open the indicators folder.
    • Paste the indicator file in this folder.
    • Restart the trading platform.
    • Open any trading chart.
    • Attach the indicator to the chart.