Accumulation Swing Index (ASI)
Info
The Accumulation Swing Index (ASI) is a Indicator for MetaTrader 5 that the accumulation swing index (asi) is an indicator created by welles wilder to reveal the 'phantom line' of the real market amidst price fluctuations. Wilder's book, 'New Concepts in Technical Trading Systems', introduces the ASI as a tool for confirming trend-line breakouts and minimizing erroneous breakouts on bar charts.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Accumulation Swing Index (ASI)
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
The Accumulation Swing Index (ASI) is an indicator created by Welles Wilder to reveal the 'phantom line' of the real market amidst price fluctuations.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Williams' Accumulation/Distribution (W A/D) Indicator - another powerful indicator for MetaTrader 5 traders.
The Accumulation Swing Index (ASI) is an indicator created by Welles Wilder to reveal the 'phantom line' of the real market amidst price fluctuations. Wilder's book, 'New Concepts in Technical Trading Systems', introduces the ASI as a tool for confirming trend-line breakouts and minimizing erroneous breakouts on bar charts.Also recommended: Accumulation/Distribution Indicator - similar indicator with strong performance on MetaTrader 5.
The ASI aims to represent the 'real market' by closely resembling actual prices, enabling classic support/resistance analysis. Standard analysis includes identifying breakouts, new highs and lows, and divergences. Wilder highlights the following characteristics:
- Quantification of price changes.
- Identification of short-term turning points.
- Understanding the real market power and trend.
Calculation:
SI(i)=50*(CLOSE(i-1)-CLOSE(i)+0.5*(CLOSE(i-1)-OPEN(i-1))+0.25*(CLOSE(i)-OPEN(i))/R)*(K/T)
ASI(i) = ASI(i-1) + SI(i)
where:
- SI (i) is the current value of the Swing Index technical indicator.
- SI (i-1) is the value of the Swing Index on the previous bar.
- CLOSE (i) is the current close price.
- CLOSE (i-1) is the previous close price.
- OPEN (i) is the current open price.
- OPEN (i-1) is the previous open price.
- R is a parameter derived from a complex formula based on the ratio between the current close price and previous maximum and minimum.
- K is the greater of (HIGH (i-1) - CLOSE (i)) and (LOW (i-1) - CLOSE (i)).
- T is the maximum price change during the trade session.
- ASI (i) is the current value of the Accumulation Swing Index.
You may also like: Zig Zag Swing Detection with Break and Change of Structure Labels - excellent alternative for indicator users on MetaTrader 5.
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.