ALF Forex Indicator is very easy to understand and is a reliable tool too. ALF is simply nothing more than a custom made moving average. The ALF is blue in color. Since ALF is a kind of moving average, it is useful to trade in a trending market. Moving averages do not work in ranging market. so it is highly recommended that you trade in trending currency pairs only while trading with ALF forex trading system.
Regarding the time frames, you can choose any time frames but you must be comfortable. If you have habit of trading in time frames like H1, H4, Daily etc, you should not try to scalp in 1 minute time frame as it can be disastrous. Similarly if you have been trading in 1M, 5M time frames do not trade in daily time frames because you will not have patience to wait that long. Time frame you choose to trade is determined by your personality and lifestyles. If you are kind of aggressive, you like things happening fast, you hate waiting for long and non patience then you are likely to be a scalper. If you are also part time trader then you might be a scalper but it doesn’t mean that the part time trader won’t trade for long periods.
People with personality who don’t like things happening fast, who is patient, is likely to be a swing trader.
When ALF forex trading system is correctly loaded on your platform your chart should look like this:
As you can see above ALF system consists of an indicator which looks like moving average. Trading signals are generated on the basis of crossovers between price and the ALF indicator. When the price crosses above the ALF indicator in an uptrend market it is a buy signal and conversely when the price crosses the ALF indicator downside in a down trending market it is a sell signal.
Buying Conditions Using ALF System.
Major trend should be up on the time frame you are trading. It shouldn’t be hard for you to figure out this with naked eyes.
Price should cross above the ALF indicator.
Open a long position as soon as above conditions are met.
Place your stop just below the recent swing low.
Take your profit when the price falls back to touch the ALF indicator.
Selling Conditions Using ALF System.
Major trend should be down on the time frame you are trading. It shouldn’t be hard for you to figure out this with naked eyes.
Price should cross below the ALF indicator.
Open a short position as soon as above conditions are met.
Place your stop just above the recent swing high.
Take your profit when the price rises back to touch the ALF indicator.
Forex Indicators Download – Instructions
ALF Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
ALF Forex Indicator 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.
Do the same with template file (.tpl), if there is any, at File/Open Data Folder/templates.
How to install ALF Forex Indicator.mq4?
- Download ALF Forex Indicator.mq4
- Copy ALF Forex Indicator.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on ALF Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator ALF Forex Indicator.mq4 is available on your Chart
How to remove ALF Forex Indicator.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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