The Blast RSI with ASCTrend Trading System shows exact trend reversal conditions and transforms price data into potential buy/sell signals in MT4.
It uses the ASCTrend indicator to identify the swing highs and lows of the price. The green/red arrows on the chart show the possible direction of the upcoming price trend. Moreover, the system comprises Classy Blast RSI, Forex Guide, and TraderPro momentum oscillators to simultaneously verify the trade signal and trend conditions.
According to our review, we’ve found the Blast RSI with ASCTrend an ideal trading system for forex and stock day trading. Moreover, this MT4 strategy suits multi-timeframe chart analysis and perfectly works for any financial instrument.
The green arrow below the price bar points an upside direction of the market trend. The Classy Blast RSI bars become yellow in the oscillator window, and the Forex Guide bars turn green to confirm an uptrend condition. Finally, the TraderPro curve appears in aqua color, indicating bullish momentum.
Since the Blast RSI with ASCTrend Trading System doesn’t generate trade exit signals, it’s ideal to use support/resistance tools for determining take-profit zones. We’ve decided to exit long, right after the price was rejected to break above the horizontal resistance level in the above chart.
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In the above EURUSD chart, the ASCTrend plotted a red arrow above the price bar high to signal a bearish trend. When the price attempted to break below the current consolidation range, both TraderPro and Forex Guide bars turned red, confirming the downtrend signal.
Next, the TraderPro color changes to yellow to ensure the existence of a solid bearish momentum.
Upon getting the above confirmations, trigger short while the price breaks below its current range plotting a bearish breakout.