Adding MetaTrader 4 Aroon Indices Technical Chart Indicator
Step 1: Open the Indices Trading Platform Navigator Window
Open the Navigator window as shown below; Go to “View” menu (click), then select the “Navigator” window (click), or From Standard Toolbar click the “Navigator” button or press short cut keyboard keys “Ctrl+N”
On the Navigator window, select “Indicators”, (Double Click)
How to Add Aroon Stock Indexes Indicator on MT4 - MetaTrader 4 Aroon Indices Indicator
Adding Aroon MetaTrader 4 Indices Technical 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 stock indices chart indicator from this list of stock indices indicators so as to add the Aroon stock indexes technical indicator on the stock indexes trading chart.
From the Above window you can then place Aroon indicator that you want on the Indices Trading chart
How to Put Custom Aroon Stock Indexes Indicator on MetaTrader 4 and How to Install Aroon Stock Indexes Indicator MetaTrader 4
If the stock indices indicator you want to add is a custom indicator - for example if the Aroon indicator you want to add is a custom indicator you will need to first add this custom Aroon indicator on the MT4 stock indexes trading platform and the compile the custom Aroon indicator so that the newly added Aroon custom indicator appear on the list of custom indicators on the MetaTrader 4 stock indexes trading platform.
To learn how to install Aroon indicators on MetaTrader 4, how to add Aroon indicator window to MetaTrader 4 and how to add Aroon custom indicator on MT4 stock indexes trading platform - How to add a custom Aroon indices trading Indicator on MT4.
About Aroon Indices Indicator Tutorial
Aroon Indices Indicator Indices Technical Analysis and Aroon Indicator Indices Trading Signals
Developed by Tushar Chande
This indicator is used to determine if a trading instrument is trending or not.
It is also used to indicate how strong the indices trend is.
It is also used to identify the beginning of a trend, the name its name which means morning or dawn.
This indicator has two lines:
- Aroon UP
- Aroon DOWN
Percentage of time between the start of a time period and the highest point that stock indexes price has reached during that period.
If stock indexes price sets a new high, Aroon UP will be 100 - for each new high it will stay at 100. However, if stock indexes 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 stock indexes price is making new highs but when it starts to move down then stock indexes price is not making new highs.
If however stock indexes price is making new lows for a particular stock indexes price period then Aroon UP will be at zero
Aroon UP is a percentage of time between stock indexes price period and highest point.
If you use 10 stock indexes price periods for calculation:
Example 1: Highest stock indexes price was 1 day ago
Then if the highest point was yesterday, i.e. 1 day before then
10 stock indexes price periods minus 1 day= 9
9/10 in percent terms = 90
Aroon UP will be at 90
Example 2: Highest stock indexes price was 5 days ago
If the highest point was 5 days ago then
10 stock indexes price periods minus 5 = 5
5/10 in percent = 50
Aroon UP will be at 50
This is calculated the same as Aroon UP but this time using the lowest point instead of the highest point.
When a new low is set Aroon DOWN is at 100 and when a new high is set it will move to zero.
Indices Technical Analysis and Generating Indices Trading Signals
This indicator uses the 50 % level to measure momentum of the trend.
Buy Indices Trading Signal and exit signal
Aroon UP above 50 is a technical buy indices trading signal
Aroon UP dipping below 50 is an exit signal if you had opened a buy indices trade.
Sell Indices Trading Signal and exit signal
Aroon DOWN below 50 is a technical sell indices signal.
Aroon DOWN rising above 50 is an exit signal if you had opened a sell indices trade.
Buy and Sell Indices Trading Signals