The Aroon Super Signal Forex indicator for Metatrader 5 provides accurate signals for identifying trend reversals in a wide range of market conditions.
The indicator gets displayed in a bottom chart window as green and orange trading zones.
How to identify trend reversals?
- A green trading zone creates a bullish trend reversal.
- An orange trading zone creates a bearish trend reversal.
The indicator contains the following inputs and parameters: time frame, aroon oscillator period, price to use for high, price to use for low, levels period, level up, level down, alerts, push notifications, email alerts, play sound.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
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The following chart shows how the Aroon Super Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Aroon Super Signal Indicator?
Find a simple trading example below:
- Open a buy trade when the green trading zone shows up in the indicator chart.
- Place a protective stop loss below support.
- Close the buy trade for a predetermined pips target, or wait for a sell signal.
- Open a sell trade when the orange trading zone shows up in the indicator chart.
- Place a protective stop loss above resistance.
- Close the sell trade for a predetermined pips target, or wait for a buy signal.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Aroon_oscillator_2.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration