The Accumulation Swing Index (ASI) indicator for Metatrader 5 was developed by Welles Wilder and is a valuable technical tool for identifying turning points in trending markets.
It appears in a separate chart window as a dark-orange colored line that oscillates in agreement with the prevailing trend.
Basic trading signals explained:
- High indicator readings indicate a rising market trend.
- Low indicator readings suggest a declining market trend.
The indicator offers the following inputs and parameters for customization: ATR, bars, color, and style.
The ASI indicator can be applied to any trading instrument that is offered by the MT5 charting platform.
The indicator should be used in conjunction with other technical analysis tools to identify trade entry and exit levels more precisely.
Please make yourself familiar with this technical tool and test it first on a demo account before applying it to a real account.
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Chart Example
The picture below shows what the Accumulation Swing Index indicator looks like when applied to the MT5 chart.
