ASCtrend Indicator For MT5
Table Of Contents:
- ASCtrend Indicator For MT5
- Blue and purple dots
- Trading the reversal
- Reversal or continuation?
- Taking a high risk
- Use of the Fibonacci tools
- Useful advice
The right use of any indicator usually boosts the performance of a trader. Sadly, the majority of the Forer traders are using the wrong tools and losing money. For instance, the amateurs prefer the fractal indicator to trade the 15 minutes. But while using fractals, you must rely on a higher period. By now it should be clear, the use of the right tools can cause great variations to your trading results. Though you have plenty of tools to use, the advanced traders use the ASCtrend Indicator For MT5 to find accurate signals.
The ASCtrend Indicator For MT5 is not going to draw the zones or trend line automatically in your chart. Rather, you will have two dots that will generate signals to predict market movement. Based on the signals you have to place the orders. But focusing on the dots is not going to give you the short cut way. You have to find a valid trend line before you trade with the ASCtrend Indicator For MT5.
Blue and purple dots
We have already said, the ASCtrend Indicator For MT5 gives signals based on dots. The blue color dots represent the bulls and the purple color dots indicators selling opportunity. Buy knowing the color code of this tool is not going to make you profitable or successful. You have to blend the idea of trend trading technique with this indicator. Based on a few simple logic, you can also ride the major reversal in any market and make some serious cash. But don’t get fooled by seeing the dots in the 1-minute data. The lower period will not give you accurate signals. Just like other tools, the higher time frame should be your priority while using the ASCtrend Indicator For MT5.
Trading the reversal
Trend trading is always easy when you use supporting tools. But when the market changes the trend or you prefer the reversal, things become complex. Most of the time, it results in heavy loss. But those who know the proper use of the ASCtrend Indicator For MT5 can trade any market with strong confidence. To ensure a precise understanding of the use of this amazing tool, let’s see a short trade setup in the NZDUSD pair.
Figure: Using the ASCtrend Indicator For MT5
We have a classic bullish trend line in the NZDUSD pair. Spotting blue dots near the support of the trendline, help us to buy the pair. But if there is no prominent spot near the trend line, you should prepare for a bearish reversal. At the end of the bullish rally, we have a purple dot which indicates the bears are getting into this market. The aggressive people might go short but the smart traders will wait for the breach of the barrier. Just before the breach of the trend support, the ASCtrend Indicator For MT5 didn’t show any blue dots. This indication is convincing enough to place short orders. Thus you can ride the bearish reversal in the daily period.
Reversal or continuation?
Trading the reversal is often considered as aggressive steps. But with the right tools like ASCtrend Indicator For MT5, you manage to find good trades at any market. Even though it might be the execution signals of a new trade against the major trend, still you can expect decent ROI. So, can we trade the reversal in any pair? Well, the answer is related to your skill level. Those who are well experienced can place trade even though it’s not favoring the trend. But the starters are advised to trade with the trend, as it reduces the complications associated with the trading system.
Taking a high risk
Some of you might take high risk after using the ASCtrend Indicator For MT5 for few months. Stop thinking the ASCtrend Indicator For MT5 will never fail to predict the major movement. No such tools are invented which have the ability to predict the market nature without having any failure rate. So, stop taking high risk and be prepared to face the unexpected loss. Forget about getting rich within a few days or months. Think this as your business, focus on the necessary details. At times, avoid placing any trade during global economic news since the market might move in both directions. It’s better not to participate rather than dealing with heavy losses during an extreme level of uncertainty.
Use of the Fibonacci tools
The new traders should use the ASCtrend Indicator For MT5 with the Fibonacci retracement tools. This will allow you to place the trade with the major trend. Though it requires a higher time/period frame trading technique, still it's far better to lose money on low-quality executions. Learn about the key Fibonacci retracement stage and focus on the different stages of a trend. The more you will learn, the better you will understand the ASCtrend Indicator For MT5. And stop changing the value of the ASCtrend Indicator For MT5 since the preset value has been tested in many assets.
The life of a trader is full of challenges. Once you learn to use the ASCtrend Indicator For MT5, you may think you have the bulletproof system to trade Forex. But without any notice, the market might consolidate. The use of the ASCtrend Indicator For MT5 to deal with the ranging or consolidated market is a big mistake. Try to find the trending pairs as it improves the potential profit factors. However, when dealing with the ranging market, you must depend on the PA signals. Those who are new, may not know the term PA in Forex.PA refers to PA or price action trading and it is by far the most appropriate method to place any trade.