The indicator technical MT5 Aroon is Chart is a simple binary trend indicator based on Aroon oscillator.
The Aroon indicator is studied in the books "The New Technical Trader: Boost Your Profit by Plugging Into the Latest Indicators" and "Beyond Technical Analysis: How to Develop and Implement a Winning Trading System".
The indicator Aroon two lines, Aroon Up and Aroon Down. The two lines are in an horizontal range between 0-100 labeled to help define the strength or weakness of a currency pair. The Aroon Down is described as a green line and as the name suggests helps track prices in a downtrend. The Arron Up is described as a red line and measures the strength of the uptrend. Traders will be watching the two lines as they oscillate between 0-100 and will change their preference when a line passes over the other.
The Aroon indicator is the stock chart is a trading tool that paints the bars / candlesticks / line rates of a different color depending on the direction determined by Aroon oscillator.
It allows:
- Anticipating the passage of the trend to a Range
- Determine the strength of the movement
included
aroon_on_chart.mq5
Broker Online - Broker Exchange : Trading Platform Metatrader MT5
Interpretation Rules - Signals From Trading
* Buy signal: Feeling market trend - through bull
. Blue: rising value, superior online Aroon Up line Aroon Down
* Short Sell Signal: Feeling market trend - bearish bias
. Red: decrease in value, Aroon Up line lower line Aroon Down
Read more about the rules and trading signals:
. Tools
Trading Online - Aroon Indicator
Exchange Trading - Technical Analysis Profile Volume Range VP + v6.
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