The ASC Trend forex trading strategy is a mechanical trading system.
It incorporates the oT_S_Ra-Signal_Line.ex4 and the ASCTrend.ex4 custom indicators in delivering buy and sell alerts.
The ASC Trend FX strategy can be adopted just by anyone due to its simplicity.
Chart Setup
MetaTrader4 Indicators: oT_S_Ra-Signal_Line.ex4 (default setting), ASCTrend.ex4 (default setting)
Preferred Time Frame(s): 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hour, Day
Recommended Trading Sessions: Any
Currency Pairs: Majors and currency cross pairs
Download
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Buy Trade Example
Fig. 1.0
Strategy
Long Entry Rules
Enter a buy position if the following indictor or chart patterns are in display:
- If the signal line of the oT_S_Ra-Signal_Line.ex4 custom indicator turns lime, it is a signal to go long i.e. a buy entry is advised.
- If a yellow upward pointing arrow of the ASCTrend.ex4 custom indicator forms below price bars, it is an indication that price is going bullish i.e. a buy entry is recommended.
Stop Loss for Buy Entry: Place stop loss below support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit on position(s) if the following rules or conditions hold sway on the activity chart:
- If the signal line of the oT_S_Ra-Signal_Line.ex4 custom indicator turns red while in an uptrend, it is a sign of a looming reversal i.e. an exit or take profit is suggested.
- If during the course of an uptrend the ASCTrend.ex4 custom indicator forms a magenta downward pointing arrow aligned above price bars, it is an indication of weaning bullish influence, hence a reversal is imminent, as such an exit or take profit is advised.
Sell Entry Rules
Place a sell order if the following indicator or chart pattern(s) are in display:
- If the signal line of the oT_S_Ra-Signal_Line.ex4 custom indicator turns red, it is an indication that price is experiencing a downward push i.e. a bearish trend.
- If the magenta colored downward pointing arrow of the ASCTrend1i custom indicator forms above price bars, it is an indication that price is being pressured downward – a sell order is appropriate.
Stop Loss for Sell Entry: Place stop loss above resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit for a sell entry under the following conditions:
- If the signal line of the oT_S_Ra-Signal_Line.ex4 custom indicator turns lime, it is a trigger to exit or take profit accordingly.
- If a yellow upward pointing arrow of the oT_S_Ra-Signal_Line.ex4 custom indicator forms below price bars, it is a signal that buyers are winning the price war i.e. an exit or take profit is advised.
Sell Trade Example
Fig. 1.1
Free Download
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About The Trading Indicators
The oT_S_Ra-Signal_Line.ex4 custom indicator for Metatrader4 is essentially the Hull Moving Average, also known as HMA. It finds its use in the spotting of the prevalent market trend.
The oT_S_Ra-Signal_Line.ex4 indicator has the ability to follow price movement much closer, making it a preferred choice for traders wishing to trade in the medium and long term.
The ASCTrend.ex4 custom indicator is used to deliver trading signals via the use of its yellow upward pointing arrow (bullish signal) and magenta colored downward pointing arrow (bearish signal).