AFI Channel Surfer V2 Indicator

AFI Channel Surfer V2 Indicator

The AFI Channel Surfer V2 Indicator for MetaTrader is an auto trend channel detector suitable for trend reversal and breakout forex traders.

The AFI Channel Surfer V2 Indicator for MetaTrader is an auto trend channel detector that draws equal-distant trend lines on your chart. The upper/lower lines of the indicator work as dynamic resistance/support, respectively, while the midline indicates a trend divider for bullish/bearish trend continuation.

The indicator is a suitable tool for both trend reversal and breakout traders to identify a possible zone for trend reversal or breakout. Besides, it may also be used as a technical analysis tool to define the overall direction of the trend of a financial asset.

What’s more, the indicator is recommended for scalpers, day/intraday, and swing forex traders. Furthermore, it would also come in handy for novice, intermediate, and advanced traders in identifying trend channels.

How to Trade With the AFI Channel Surfer V2 Indicator

The above image shows the indicator’s action on an AUDUSD currency pair. It identifies a bullish trend channel on an H4 timeframe, which indicates that the trend is moving to the upside (uptrend).

However, the Doji candlestick that formed on the upper trend channel suggests a possible bearish reversal to the downside. Furthermore, the next bearish candlestick is a confluence for a potential bearish move, which also doubles as a sell entry.

The above sell scenario depicts how to trade trend reversal with the indicator in line with price action. For a trend breakout out signal, you would wait for the price to break out of the upper channel (in a bullish trend, for instance) and retest it before opening a buy entry.

Conclusion
The AFI Channel Surfer V2 indicator for MT4 is a trend-following trading tool that automatically identifies the trend channel on the chart. Finally, it is free to download.