The AFL Winner Forex indicator for Metatrader 5 is a reliable technical oscillator that generates strong signals for entering and exiting trades in any currency pair.
It appears in a separate chart window as colored blue and red candles oscillating between the 0 and 100 extreme indicator levels.
Basic trading signals explained:
- A blue colored AFL candle is considered bullish.
- A red colored AFL candle is considered bearish.
The indicator offers the following inputs and parameters for customization: AFL period, and average.
The indicator can be utilized for any trading instrument supported by the Metatrader 5 charting platform.
Make yourself familiar with this technical tool and test it first on a demo account before applying it to a real account.
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afl_winner.mq5 Indicator (MT5)
Chart Example
The picture below illustrates how the AFL Winner indicator looks like when applied to the MT5 chart.
How To Buy And Sell Pairs With The AFL Winner Forex Indicator?
Find a simple trading strategy below:
Buy Signal
- A buy signal is generated when the first blue colored AFL indicator candle appears at the 0 level.
- Initiate a buy transaction and place a stop order below the previous swing low region.
- Take profit method 1: close and reverse the buy trade when a sell signal gets displayed on the chart.
- Take profit method 2: exit the buy trade for a profit target of your preference (for example, +15 pips on the M5 chart).
Sell Signal
- A sell signal is generated when the first red colored AFL indicator candle appears at the 100 level.
- Initiate a sell transaction and place a stop order above the previous swing high zone.
- Take profit method 1: close and reverse the sell trade when a buy signal gets displayed on the chart.
- Take profit method 2: exit the sell trade for a profit target of your preference (for example, + 25 pips on the M15 chart).
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afl_winner.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the afl_winner.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration