You can now download the Aroon Up & Down Indicator for free on AtoZ Markets indicators gallery.
Aroon Up & Down is a MetaTrader indicator, which identifies local tops and bottoms on a chart. This indicator generates signals to buy and sell currency pairs when they rise from the bottom or fall from the top.
How to trade with Aroon Up & Down Indicator
The intersection of the indicator lines gives a good signal for take profit levels or stop loss levels. Aroon Up & Down indicator can send signals of crossing by mail or give them directly in MT4 platform. Aroon Up & Down is available for both MT4 and MT5.
AroonPeriod (default = 14) – period in bars where the indicator is looking for tops and bottoms. The higher the period is, the smoother the lines look, and the shorter the period is, the more signals are generated.
MailAlert (default = false) – if true, the indicator crossing signal will be sent to the email which is specified in your MetaTrader trading platform settings.
SoundAlert (default = false) – if true, audio and visual crossing signals will be given in your MetaTrader trading platform.
How to download and install an indicator
In order to install the indicator on your MT4 or MT5 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT5>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “Aroon Up & Down” template to apply it on the chart.
Note: This indicator was developed by a third party. AtoZ Markets does not carry any copyrights over this trading tool.