The Alf Winner indicator oscillates between 0.00 (oversold) and 105 (overbought) values depending upon market conditions.
Red bars suggest bearish pressure and green bars bullish pressure.
It’s recommended to use this oscillator in conjunction with trend following indicators to trade in the direction of the overall trend.
Up trends: look to buy near the 0.00 level at the first green bar. Down trends: look to sell near the 105 level at the first red bar.
Buy: Wait for the first green bar to appear near the 0.00 level (oversold).
Sell: Wait for the first red bar to appear near the 105 level (overbought).
Currency pairs: any
Preferred Time frames: 1 min and up
Configurable Indicator Options
Colors, Period, Average
USD/JPY Hourly Chart Example
How to install the AFL Winner Oscillator custom indicator in Metatrader 4?
- Download the afl_winner.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.