The Aroon Oscillator MTF indicator for Metatrader 5 gauges the strength of a trend and creates easy to follow buy & sell trading signals.
MTF stands for multiple time frame analysis (check the indicator’s inputs).
The indicator appears in a separate chart window as blue and brown colored buy & sell zones.
Trading with this indicator is easy, even for absolute beginners:
- A blue zone is a buy signal.
- A brown zone is a sell signal.
For scalpers, the Aroon indicator performs the best on the low spread currency pairs during the most volatile trading sessions.
The indicator contains the following inputs and parameters: time frame, calculation period, price to use for high, price to use for low, levels to use, interpolation, and style.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
Free Download
Aroon oscillator (mtf).mq5 Indicator (MT5)
Chart Example
The following chart shows what the Aroon Oscillator MTF indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Aroon Oscillator MTF Forex Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is given as soon as the blue colored Aroon buy zone gets displayed on the separate chart.
- Open a buy order and place your stop loss below immediate support.
- Close the buy trade for 10-25 pips profit, or hold the trade until a sell signal arrives on the chart.
Sell Signal
- A sell signal is given as soon as the brown colored Aroon sell zone gets displayed on the separate chart.
- Open a sell order and place your stop loss above immediate resistance.
- Close the sell trade for 10-25 pips profit, or hold the trade until a buy signal arrives on the chart.
