The Aroon Oscillator indicator for Metatrader 5 is based on the Aroon trading method and provides great trade entry and exit signals.
The indicator gets printed on the chart as an oscillator together with green buy and orange sell trade areas.
In essence, one would go long when the green area appears on the chart while sell in the orange area.
The indicator is solid, 100% non-repaint, and will not slow down your trading platform.
- Buy/sell technical indicator
- Works for any currency pair
- Works for any time frame
- Programmed for Metatrader 5
The image below shows the Aroon Oscillator Forex indicator attached to the EUR/USD 4-hour trading chart.
The Aroon Oscillator indicator for MT5 can be used in multiple ways, find a basic trading example below:
- Execute a buy transaction when the first green bullet appears on the chart.
- Place your stop loss 2-3 pips below the most recent swing low.
- Exit the buy trade for a fixed profit target or wait for a sell signal.
- Execute a sell transaction when the first red bullet appears on the chart.
- Place your stop loss 2-3 pips above the most recent swing high.
- Exit the sell trade for a fixed profit target or wait for a buy signal.
How to install the Aroon Oscillator indicator in Metatrader 5?
- Copy the Aroon_oscillator_2 indicator file in the MT5 indicator folder
- Restart the trading platform
- Select and attach the indicator to any chart of your preference
How to remove the indicator from the chart?
- Click with your right mouse button in the chart
- Select the indicator list from the drop down menu
- Remove the indicator from the list
- Press close
Make yourself familiar with this trading indicator and fully understand how it works before using it in a real account.