Aroon is a free Metatrader 4 Forex indicator that enables traders identifying early trends and trend reversals in the currency market.
The Aroon indicator pops up in a separate MT4 trading window underneath the main chart as an oscillator with extreme borders ranging from 0 to 100.
Key Points:
- A buy signal occurs when the yellow Aroon UP signal line crosses the blue Aroon DOWN signal line upwards.
- A sell signal occurs when the blue Aroon DOWN signal line crosses the yellow Aroon UP signal line upwards.
The indicator works on all trading instruments (Forex, CFD stocks, Indices, Cryptocurrencies, Commodities,..) and shows promising results if used correctly.
Free Download
Download the “Aroon.mq4” indicator for MT4
Indicator Example Chart (EUR/USD Daily)
How to trade with it (example)?
Open a buy trade as soon as the yellow Aroon signal line crosses the blue line upwards. This is a strong buy signal.
Open a sell trade as soon as the yellow Aroon signal line crosses the blue line downwards. This is a strong sell signal.
Exit the trade when an opposite trading signal appears on the chart, or close for a fixed profit target of your preference.
Feel free to use your own favorite trading method or system to open and close trades with the Aroon indicator.
Indicator Specifications
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: Mom period, color settings & style
Indicator type: trend
Repaint? Does not repaint the colored Aroon UP and DOWN signal lines.
Download Now
Download the “Aroon.mq4” indicator for Metatrader 4
Installation:
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the Aroon.mq4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.