AFL Winner Indicator for MT4

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AFL Winner Indicator for MT4

Introduction to the AFL Winner Indicator

The AFL Winner Indicator was developed using the AmiBroker Formula Language, which is why it called the “AFL” Winner Indicator.

This indicator was developed to help traders objectively identify the direction of the short-term momentum, price swings, as well as the potential mean reversals coming from an overbought or oversold market, which may be observed on a market’s price swing.

What is the AFL Winner Indicator?

The AFL Winner Indicator is a momentum indicator which presents the direction of the market as an oscillator type of indicator.

This indicator plots bars that oscillate within the range of zero to 100. It plots lime bars to indicate a bullish momentum direction and red bars to indicate a bearish momentum direction.

AFL Winner Indicator for MT4

The bars that this indicator plots have characteristically smooth oscillations yet is also very responsive to changes in the direction of price due to price swings.

This indicator can be used as a mean reversal signal indicator based on bars reversing from levels touching zero and 100. The bars vanish as it drops below zero or exceeds above 100 indicating an oversold or overbought market. These scenarios are prime conditions for potential reversals coming from oversold or overbought markets.

How the AFL Winner Indicator Works?

This indicator’s algorithm uses an underlying Linear Weighted Moving Average (LWMA) to calculate for the oscillations of its bars. It has a complex algorithm which calculates and compares price movements relative to the average historical price movement. The indicator then plots lime bars whenever the value of the bars is rising, and red bars whenever the value of the bars is dropping.

How to use the AFL Winner Indicator for MT4

The AFL Winner Indicator has a few options within its indicator settings which users can modify.

How the AFL Winner Indicator Works

“PERIOD” refers to the number of periods the indicator uses to calculate for its underlying LWMA line, which is the basis for it other calculations.

“AVERAGE” allows users to adjust the average threshold which modifies the characteristics of the indicator’s oscillations.

Buy Trade Setup

When to Enter?

Allow the bars to drop to zero and vanish. Open a buy order as soon as the indicator plots a lime bar touching zero in confluence with other bullish reversal signals.

When to Exit?

Allow the bars to touch 100 and close the trade as soon as price action shows signs of a possible bearish reversal.

How to use the AFL Winner Indicator for MT4 - Buy Trade

Sell Trade Setup

When to Enter?

Allow the bars to breach above 100 and vanish. Open a sell order as soon as the indicator plots a red bar touching 100 in confluence with other bearish reversal signals.

When to Exit?

Allow the bars to touch zero and close the trade as soon as price action shows signs of a possible bullish reversal.

How to use the AFL Winner Indicator for MT4 - Sell Trade

Conclusion

This indicator can be a very effective momentum reversal entry signal. However, it is even more effective if the reversal signals develop coming from an oversold or overbought price level. This indicator is also very effective when used in confluence with the long-term trend direction.

MT4 Indicators – Download Instructions

AFL Winner Indicator for MT4 is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated history data.

AFL Winner Indicator for MT4 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT4 Strategies

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How to install AFL Winner Indicator for MT4.mq4?

  • Download AFL Winner Indicator for MT4.mq4
  • Copy AFL Winner Indicator for MT4.mq4 to your Metatrader Directory / experts / indicators /
  • Start or restart your Metatrader 4 Client
  • Select Chart and Timeframe where you want to test your MT4 indicators
  • Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
  • Right click on AFL Winner Indicator for MT4.mq4
  • Attach to a chart
  • Modify settings or press ok
  • Indicator AFL Winner Indicator for MT4.mq4 is available on your Chart

How to remove AFL Winner Indicator for MT4.mq4 from your Metatrader Chart?

  • Select the Chart where is the Indicator running in your Metatrader 4 Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

AFL Winner Indicator for MT4 (Free Download)

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