How to Add Aroon Indicator on MetaTrader 4 Charts - Adding MT4 Aroon Forex Chart Indicator

Step 1: Open Navigator Window Panel on Forex Trading Platform

Open Navigator window as shown & illustrated below: Go to "View" menu (click on it), then select "Navigator" window (click), or From Standard Tool Bar click the "Navigator" button or press keyboard short cut keys "Ctrl+N"

On Navigator window, select 'Technical Indicators', (DoubleClick)

How to Add Aroon Indicator on MetaTrader 4 - MT4 Aroon Technical Indicator

Step 2: Expand the Indicators Menu on the Navigator - Adding Aroon MT4 Chart Indicator

Expand the menu by clicking the expand button marker (+) or double click the "indicators" menu, after this the button will appear as (-) and will now display a list as shown below - select the Aroon forex chart indicator from this list of forex indicators so as to add the Aroon indicator on the forex chart.

How to Add Aroon Indicator - From the Above window you can then place Aroon indicator that you want on the Forex chart

How to Add Custom Aroon Indicator to MT4

If the technical indicator you want to add is a custom indicator - for example if the Aroon technical indicator you want to add is a custom indicator you will need to first add this custom Aroon indicator on the MetaTrader 4 platform & then compile custom Aroon indicator so that the newly added Aroon custom indicator pops up on the list of custom indicators in MetaTrader 4 software.

To learn how to install Aroon indicators on MT4, how to add Aroon indicator window to MT4 and how to add Aroon custom indicator in MT4 - How to add a custom Aroon indicator on MetaTrader 4.

About Aroon Technical Indicator Described

Aroon Indicator Technical Analysis & Aroon Technical Indicator Signals

Developed by Tushar Chande

This indicator is used to determine if a instrument is trending or not.

It is also used to indicate how strong the trend is.

It is also used to spot the beginning of a trend, the name its name which means morning or dawn.

This indicator has two lines:

• Aroon UP
• Aroon DOWN

Aroon UP

Percentage of time between the start of a time period and the highest point that price has reached during that period.

If price sets a new high, Aroon UP will be 100 - for each new high it will stay at 100. However, if price moves down by a certain percentage, then that percentage is subtracted from the 100 and Aroon UP starts to move down. This means that if Aroon UP stays at 100 then price is making new highs but when it starts to move down then price is not making new highs.

If however price is making new lows for a particular price period then Aroon UP will be at zero

Calculation

Aroon UP is a percentage of time between price period and highest point.

If you use 10 price periods for calculation:

Example 1: Highest price was 1 day ago

Then if the highest point was yesterday, i.e. 1 day before then

10 price periods minus 1 day= 9

9/10 in percent terms = 90

Aroon UP will be at 90

Example 2: Highest price was 5 days ago

If the highest point was 5 days ago then

10 price periods minus 5 = 5

5/10 in percent = 50

Aroon UP will be at 50

Aroon DOWN

This is calculated the same as Aroon UP but this time using the lowest point instead of highest point.

When a new low is set Aroon DOWN is at 100 and when a new high is set it'll move to zero.

Forex Technical Analysis & How to Generate Signals

This indicator uses the 50% level to measure momentum of the trend.

Buy Forex Signal and exit Trading Signal

Aroon UP above 50 is a technical buy trading signal

Aroon UP dipping below 50 is an exit signal if you had bought the currency.

Sell Forex Signal and exit Trading Signal

Aroon DOWN below 50 is a technical sell trading signal.

Aroon DOWN rising above 50 is an exit signal if you had sold the currency.

Aroon Indicator - Buy Sell Aroon Indicator Signals