The Custom Aroon Oscillator Indicator is a useful and popular Forex indicator for the MT4 platform. It is free to download and use, and is a great tool for traders of all levels of experience. The Custom Aroon Oscillator Indicator is designed to measure the strength of a trend and the potential for a reversal. It does this by plotting two lines on a chart – an Aroon Up line and an Aroon Down line. The Aroon Up line measures the strength of an uptrend, while the Aroon Down line measures the strength of a downtrend. When the Aroon Up line is above the Aroon Down line, it indicates that an uptrend is in progress. Conversely, when the Aroon Down line is above the Aroon Up line, it indicates that a downtrend is in progress. The indicator also uses an oscillator to measure the momentum of the trend. The oscillator will move up and down between 0 and 100, with readings above 70 indicating that the trend is strong, and readings below 30 indicating that the trend is weak. The Custom Aroon Oscillator Indicator is a great tool for traders who are looking for potential trading opportunities. It can be used to identify when a trend is about to reverse, and can also be used to confirm existing trends. The indicator is easy to use and can be a great addition to any trader’s toolkit.
MT4
Custom Aroon Oscilator
The Custom Aroon Oscillator is a popular and free forex indicator that is useful for MT4 traders. It is a technical analysis tool that helps traders identify trends in the market. The indicator works by measuring the number of bars that have closed above or below the mid-point of the price range. When the number of bars that close above the mid-point is increasing, it indicates that the price is in an uptrend. It is a versatile indicator that can be used to identify both short-term and long-term trends.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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