The Accumulation Swing index foreign exchange indicator (ASI) for MetaTrader 4 platform is a fundamental analysis that was created by Welles Wilder. The indicator discovers its usefulness in the exchanging of divergences and also as a verification mechanism.
The long-term trend of a fiscal asset can also be estimated utilizing the ASI. The ASI is basically the accumulative overall of values of swing price levels of each candlestick. The swing price level is fairly common in the futures market, but also discovers usefulness in foreign exchange trading.
- The forex indicator can be utilized in any currency pairs.
- The endorsed platform for the indicator is MetaTrader 4.
- Chart window indicator, oscillator, support/resistance, and divergences are the recommended types for the indicator.
- The recommended time frame is five minutes, fifteen minutes, thirty minutes, one hour, four hours, one day, one week or one month.
- Variable (T), Colors, width & Style are the customized options for this indicator.
The overall swing price level provides an enhanced long-term perspective than utilizing the fundamental swing index, which utilizes data from just two candlesticks.
The overall swing price level is positive when the long-term trend is upward. Nevertheless, when the overall swing price level is negative, the long-term trend is downwards. A side by side or non-trending long-term trend is decreased when the overall swing price level fluctuates in the midst of the negative and positive figures.
Besides utilizing this indicator as a mechanism for verifying divergences, the ASI is also being redistributed in the verification of break outs. This can be obtained by sketching trend borderlines on the ASI indicator forth with corresponding trend borderlines on the activity chart. A breakout in prices from the trend borderline is verified when the ASI trend borderline breaks out. The figures of look back time period can be customized to indicate the forex trader’s preference.
The borderline of the ASI indicator indicates actual market price and as such we can sketch support/resistance levels on it, with matching levels on the price chart to easily foresee price breakouts.
Utilize this forex Indicator at your own risk. WindsorForex.com cannot be responsible for any losses associated with utilizing any forex indicator presented on the site. It’s not recommended to utilize this indicator on the real account without testing it on demo first.