This tools is the first of a series of indicators which implement specific tasks for Forex Trading. All these tools have been developed after the creation and analysis of the universal ASTr_Pro indicator, created by a group of traders on the "all in one" principle. The detected regularities in the market behavior formed the basis of this series.
AST_Light is similar to the very popular eASCTrend strategy. All materials on how to trade using this strategy are available on the Internet, so Ш will no describe it here. The strategy's significant difference from the series of indicators is that the main signals for trading in this version do not depend on the TF. Therefore, it can be attached to a M1 chart to get a clearer picture and early trading signals, say, for the usual H1 chart (except for the early alert signals or scalping).
The following features have been added: target levels, possible rollback levels, "beautiful levels" and price holding areas. This is the zone of price consolidation in the case of a false breakdown, or when a new trend is being formed.
We have retained the basic principle of its "predecessor", "all in one" and versatility. It features a wide range of settings and the possibility of additional signals (or filters) based on CCI or Heiken Ashi. So you can create your own strategies on its basis.
- draw_Slow_trend—the prices used for drawing the trend channel;
- fibo_Slow_trend—distance in % from the extremes (atr_Slow_Deviations=false);
- atr_Slow_Dev—market volatility used for drawing the channel (atr_Slow_Deviations=true): calculated in % from the number of bars in a day for timeframes below H1,for timeframes H1 or higher — from the number of bars in a month;
- atr_Slow_Deviations—enable volatility based calculation for Slow_trend;
- draw_Fast_trend—similar to draw_Slow_trend, but for the fast trend;
- fibo_Fast_trend—similar to fibo_Slow_trend, but for the fast trend;
- atr_Fast_Dev—similar to atr_Slow_Dev, but for the fast trend;
- atr_Fast_Deviations—similar to atr_Slow_Deviations, but for the fast trend;
- arrow_Slow_trend—character code for Slow_trend;
- arrow_Fast_trend—character code for Fast_trend;
- target_Fibo_level—the list of target levels and rollback levels. For the correct display, separate by ";", sopecify in the chronological order (ascending), specify rollback at the end;
- Level_Style—style of target level lines;
- Level_Width—width of target level lines;
- font_Size—font size for the target levels;
- text_Color—font color for the target levels;
- important_Level—draw or not "beautiful levels". They are drawn at the distance of 50 pips (4-digit) for the TF below H1, and 100 pips (4-digit) for the TF above Н1;
- important_Level_shift—continuation of "beautiful levels" in bars from the right chart edge;
- draw_Candles_type—bar display options: Heiken_Ashi, based on CCI position, disabled;
- fast_Period—CCI calculation period (draw_Candles_type= CCI_Candles);
- flat_Fast_level—the levels of CCI (+,-), between which the market is considered neutral (in flat);
- draw_Signal—disable early alert signals.
If draw_Candles_type=CCI_Candles, the candlesticks are colored:
- Green—CCI between + flat_Fast_level and +200;
- Red—CCI between - Flat_fast_level and -200;
- Blue—CCI above +200;
- Purple—CCI below -200;
- Yellow—CCI between + flat_Fast_level and 0;
- Latte—CCI between - flat_Fast_level and 0.