Aroon Indicator in new form – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • The Aroon indicator is a technical indicator used for identifying trends in an underlying security and the likelihood that the trends will reverse.

    It is made up of two lines:

    • one line is called “Aroon up”, which measures the strength of the uptrend,
    • and the other line is called “Aroon down”, which measures the downtrend.   

    The indicator reports the time it is taking for the price to reach, from a starting point, the highest and lowest points over a given time period, each reported as a percentage of total time. This indicator adds the coloring in order to make it easier to spot the trend change (which can be difficult sometimes it the coloring is not there).

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  • How to install MT5 indicator?
  • 1. On the desktop, double-click to open the MT45 trading platform software you installed.
  • 2. Click on “File” in the upper left corner – “Open Data Folder”, double-click the MQL5 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT5, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window
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