The AFL Winner forex indicator is an awesome short-term trend following trading oscillator which can be used for scalping and day trading on any time frame.
The AFL Winner indicator fluctuates between two extreme values, 0.00 and 105.
AFL follows the short-term trend and draws lime and red bars on a separate chart window.
- Green bars are said to be bullish and currency traders look for buy trade opportunities
- Red bars are said to be bearish and currency traders look for sell trade opportunities
For more profitable buy signals, wait for the green bars to reach oversold territory (near the 0.00 level).
Conversely, for more profitable sell signals, wait for the red bars to reach the overbought territory (near the 105 level).
Use together with a trend-following indicator to create a real forex trading system.
The USD/JPY 30-Minute chart below displays the AFL Winner Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the AFL Winner MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open a long trade when the AFL Winner forex indicator changes color from red bars to lime bars and the overall trend is upward.
Sell Signal: Open a short trade when the AFL Winner forex indicator changes color from lime bars to red bars and the overall trend is downward.
Trade Exit: Close the open buy/sell trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (Period, Average) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the afl-winner-indicator.mq4 into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)