This indicator is based on WPR (Larry Williams' Percent Range) and its multiple signal lines analysis.
A trend direction in this indicator is determined by the cloud color, while its power is determined by the cloud width. You can use the overbought (UpLevel) and oversold (DnLevel) levels that are set in percent value from the indicator maximum amplitude.
Author: Nikolay Kositsin
Forum on trading, automated trading systems and testing trading strategies
newdigital, 2014.03.31 12:17
Asctrend indicator in depth
newdigital, 2013.04.01 12:53
Stochastic indicator (Sto.chas.tic - sto kas'tik) was invented by C. Ralph Dystant (1902-1978) and George C. Lane (1921-2004). WPR was invented by Larry Williams but he uses Stochastic in some cases as an example of WPR :)
But Stochastic is more developed by many versions and more used than WPR for example.
newdigital, 2013.03.29 18:59
You know - the classical approach of this asctrend system is the following: asctrend signal is confirmed if the following:
This is the very very first asctrend system. I mean: everything was started from it. And the meaning of this system is the following: we should take some part of already existing trend to our profit. We can not tal all the trend. we can take just some part of the trend.
newdigital, 2013.03.29 19:22
You can see - this is classical asctrend (very very first one) - MT4:
newdigital, 2013.03.29 19:29
And this is Asctrend indicator and template for MT4 - attached.