The Absolute Strength Crossover System indicator for MT4 works on absolute strength and delivers solid Forex signals.
- The trend is considered bullish when the green line crosses back above the red line from below.
- The trend is considered bearish when the green line crosses back below the red line from above.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
Indicator Example Chart (EUR/USD H4)
How to trade with it (example)?
Open a buy trade as soon as the green line crosses back above the red line from below and the underlying trend is clearly up.
Open a sell position as soon as the green line crosses back below the red line from above and the underlying trend is clearly down.
Exit the trade near previous support or resistance or for a fixed profit target of your preference.
Use a tight stop loss for both buy and sell positions.
Feel free to use your own favorite trading method to open and close trades with the Absolute Strength Crossover System indicator.
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: Use RSI or Stochastic, length, signal period, smooth period, moving average type, price, color settings & style
Indicator type: absolute strength
Repaint? Does not repaint the absolute strength histogram bars.
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the absolute-strength-indicator.mq4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.