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Indicators

Aroon - multi time frame version - indicator for MetaTrader 5

Mladen Rakic

Views:
948
Rating:
votes: 9
Published:
2019.02.18 18:54
Aroon (mtf).mq5 (20.77 KB)view

Theory :

The Aroon indicator was developed by Tushar Chande in 1995.

This version is correcting what is frequently found for metatrader versions of Aroon indicator (level 0 never reached) and is adding multi time frame option to it. Multi time frames are having, apart from all the standard multi time frames that can be used in metatrader 5, 3 additional "time frames" :

  • first higher time frame (first time frame higher than the current chart time frame)
  • second higher time frame (second time frame higher than the current chart time frame)
  • third higher time frame (third time frame higher than the current chart time frame)

Usage :

You can use color changes as signals


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Set the number of consecutive candles along with RSI level for a valid signal.

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RSI swings RSI swings

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