The Alf Winner indicator oscilllates 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.
(description found on the web).

This indicator use a conjunction of price action (average of 2 times Close + High + Low) and Volumes in its formula, it results an oscillation between the 2 oversold and overbought zones. The curve is double smoothed with Weighted Moving Average, periods can be changed in the settings.

//PRC_AFL Winner | indicator
//27.04.2017
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//Translated from MT4 version 

//---Settings
//PERIOD = 10
//AVG = 5
//---end of settings

if barindex>period then  
 period=max(period,2)
 avg=max(avg,2)

 pa = (2*close+high+low)/4

 scost5=summation[avg](volume*pa)
 svolume5=summation[avg](volume)

 pa5=scost5/svolume5

 mmin=lowest[period](pa5)
 mmax=highest[period](pa5)

 rsv=((pa5-mmin)/max(mmax-mmin,pointsize))*100

 pak = average[avg,2](rsv)
 pad = average[avg,2](pak)

 if pak>pad then 
  drawcandle(pad,pak,pad,pak) coloured(30,144,255)
 else
  drawcandle(pak,pad,pak,pad) coloured(220,20,60)
 endif
endif

return