The Aroon Oscillator indicator for Metatrader 4 oscillates between +100 and -100 .
It provides buy and sell signals based on the Aroon formula (Aroon Up – Aroon Down).
Trading signals: Bullish – Buy at the green dots. Bearish – Sell at the red dots.
General Assumptions:
- Price bullish above the zero line.
- Price bearish below the zero line.
- Strong uptrend above +50
- Strong downtrend below -50
Download
Download the Aroon Oscillator.mq4 indicator.
EUR/USD Daily Chart Example
How to install the Aroon Oscillator custom indicator in Metatrader 4?
- Download the Aroon Oscillator.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.