AFL Winner Indicator For MT5
The AFL Winner Indicator For MT5 was originally written in AmiBroker Formula Language and was then transferred into the MQL5 language. The indicator draws an oscillator on a subwindow with which you can trade oversold and overbought regions. You can also detect the direction of the trend. Blue color is used to show upward trends. Red color is used for downward trends.
The AFL Winner Indicator For MT5 is a very sophisticated tool written in the AFL language. This indicator has a built-in reversal data structure 0/100 which can be increased or decreased. If you prefer to use the AFL Winner indicator with a short term or intraday trading method, you should decrease the value.
On the contrary, if you wish to use a position trading or long-term trading method use the default settings. This indicator analyzes the trend and creates a series of red and blue candles. The formation of the red candles starts from the top part of the indicator panel. On the contrary, when the red candles reach the bottom part of the indicator panel, it starts to change its color to blue. In short, you can also refer to the change in the color of the candle's cyclic movement.
But taking advantage of the cyclic movement of the candle is a very tough task. Unless you can do the market analysis with your existing trading method, it will be a tough call to make the right decision. For your betterment, you should focus on the higher time frame method at the initial stage. This should give you enough time to spot the change in the color of the candles. However, you can also use the AFL Winner to a short time frame trading method.
Trading ideas with the AFL Winner Indicator For MT5
The professional traders always use a robust trading method. To them, the use of indicators is more like an extra step to analyze trade signals. Unless you have a perfect system that can find highly reliable trade setups in any time frame, you should not try to integrate the AFL Winner Indicator.
In case you want to create a scalping method, it’s better to learn about price action trading and news analysis. On the contrary, if you prefer to trade in a higher time frame, you can ignore the news factors to a certain extent. But the experts always suggest getting skilled in news analysis as it keeps the risk factors significantly low in the trading business.
As you learn the process to execute high-quality trades in any environment, you should match the reading the AFL Winner Indicator. For the long trade, the color of the bars in the AFL Winner Indicator should be blue. And for the short trade, the color needs to be red. But the smart traders analyze the position of the candle to improve their trade accuracy. Let’s get into the core details.
AFL Winner Indicator For MT5 - Buy Entries
Everyone wants to become rich by using aggressive methods. To the novice trader, the aggressive trading method means more profit taking the opportunity. But if you study hard, you will notice aggressive traders end up over-trading. Even if your scalp, chances are high you won’t be able to control the frequency of the trades.
The more you trade, the higher chance you have to blow up the account. Develop a trading routine so that you can execute quality trades at the important support level with PA signals or powerful indicator reading. Once you have got the buying signal in the support zone, take the reading from the AFL Winner Indicator. The indicator reading should a strong bullish rally of the blue bars.
In the ideal case, the trade setups will form after you have spotted three or more blue bars in the chart. Trying to open the long trade at the first blue bars in the AFL Winner Indicator is a bit risky as you are not certain that the slope of the bars has changed.
AFL Winner Indicator For MT5 - Sell Entries
The smart investors take their short trade at the critical resistance levels only. They always ignore the minor resistance level as selling at the minor zone becomes very hard. To improve your trading model, you can study the important market details and know more about the supply line. The supply line should be drawn in a higher time frame only.
After getting a strong rejection at the supply line, you can get the confirmation that the sellers are ready to push the price to a new low. But don’t get biased and increase the risk factors to earn more money. Wait in the sideline and look at the AFL Winner Indicator reading. The indicator bar should be colored in red.
Just like our long trade, you should be waiting for a minimum of three red bars in the chart. The red bars in the indicator chart will show the power of the sellers. In case you are taking the trades at the break of the important support zone, you should see the position of the red bars is nearly in the middle of the indicator panel. So, analyze the position of the colored bars to assess the strength of the sellers or the buyers.
AFL Winner Indicator For MT5 - Conclusion
The elite investors know the proper way to take the trades. They never increase the risk even though they know the proper way to use the cyclic AFL Winner Indicator. The purpose of this indicator is to filter the trade. It will not show you the perfect place to open long or short trade. With this indicator, you will just know which signal is more valid.
During the time of the major news, if you see the colored bars in the AFL Winner Indicator at the extreme level, you can expect a breakout. But never take the trades in the breakout unless you know the proper way to analyze the news. To learn news analysis, get a demo account, and study the price movement right after the news release.
It might take some time to get synchronized with the volatile state of the market. But once you, you can easily sync the fundamental data with the technical analysis. This can significantly improve your trade execution process. But no matter how well you trade, you must not take unnecessary risks. Read about the standard risk management rule so that you can protect the capital at any cost.