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.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the asi.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration