Autoit 3 Script
$trol=ASCIIGenerate(4,1,1,0)&ASCIIGenerate(24,0,0,1)&ASCIIGenerate(2,1,1,0)&ASCIIGenerate(2,0,0,0)&ASCIIGenerate(24,1,0,0)&ASCIIGenerate(1,0,0,1)&ASCIIGenerate(2,1,1,0)&ASCIIGenerate(1,0,0,0)&ASCIIGenerate(26,1,0,0)&ASCIIGenerate(1,0,0,1)&ASCIIGenerate(1,1,1,0)&ASCIIGenerate(1,0,0,0)&ASCIIGenerate(28,1,0,0)&ASCIIGenerate(2,0,0,1)&ASCIIGenerate(1,1,1,0)&ASCIIGenerate(1,0,0,0)&ASCIIGenerate(30,1,0,0)&ASCIIGenerate(1,0,0,1)&ASCIIGenerate(1,1,1,0)&ASCIIGenerate(1,0,0,0)&ASCIIGenerate(30,1,0,0)&ASCIIGenerate(1,0,0,1)&ASCIIGenerate(2,1,1,0)&ASCIIGenerate(1,0,0,0)&ASCIIGenerate(28,1,0,0)&ASCIIGenerate(1,0,0,1)&ASCIIGenerate(2,1,1,0)&ASCIIGenerate(1,0,0,0)&ASCIIGenerate(26,1,0,0)&ASCIIGenerate(2,0,0,1)&ASCIIGenerate(2,1,1,0)&ASCIIGenerate(1,0,0,0)&ASCIIGenerate(21,1,0,0)&ASCIIGenerate(5,0,0,1)&ASCIIGenerate(2,1,1,0)&ASCIIGenerate(1,0,0,0)&ASCIIGenerate(12,1,0,0)&ASCIIGenerate(9,0,0,1)&ASCIIGenerate(3,1,1,0)&ASCIIGenerate(12,0,0,1)
RunWait("cmd /C @echo off&color F0&"&$trol&"pause > nul")
Func ASCIIGenerate($num,$char,$echo,$and)
Local $i=0
Local $str=""
If $echo=1 Then
$str&="echo "
EndIf
Do
Switch $char
Case 0
$str&="#"
Case 1
$str&=" "
EndSwitch
$i+=1
Until $i=$num
If $and=1 Then
$str&="&"
EndIf
Return $str
EndFunc
Output:

Holes exploited:
You can't have it stored in any image format or pre-rendered (including base64 data:// uri's and any form of ascii art).
The ASCII art is generated by the script on the fly. The script itself only has info on which and how many characters it must draw onscreen and when start a new line.
You can't store the image in any database.
The image must show in the screen. It can't output the code to a file or anything similar (/dev/null doesn't count and virtual screens/viewports also don't count).
The script doesn't create nor contain any files. When generated, the ASCII art is loaded onto the computer's RAM and then shown via CMD commands (without using any batch files, only cmd /c ).
The code must render the trolologram on the screen (minimum size of 90x90) and must be with a black border and white background. The rendered version can't "be invisible" or "hidden behind the screen" or similar.
The image displayed onscreen is way bigger than 90x90 and it's black on a white background.