New Aroon Up and Down Indicator for MetaTrader 4 - Free Download [TradingFinder]

The New Aroon Up and Down Indicator is designed on the MetaTrader 4 platform based on timing price movements.

This trading tool calculates the number of candlesticks passed since the last high and last low within a defined timeframe, displaying the strength and momentum of the trend.

New Aroon Up and Down Indicator Table

The general specifications of the New Aroon Up and Down Indicator are presented in the table below:

New Aroon Up and Down Indicator at a Glance

The New Aroon Up and Down Indicator can display different market conditions in bullish and bearish forms using blue and red arrows.

In bullish trends, the Aroon Up line moves at higher levels, and its proximity to the value of 100 indicates buyers’ dominance. Conversely, in bearish trends, the Aroon Down line stabilizes at higher zones, reflecting sellers’ pressure.

Additionally, the oscillator chart at the bottom of the screen reflects the strength and persistence of the trend. Higher values indicate a strong movement in the prevailing direction, while lower values signify a neutral market phase.

Indicator in an Uptrend

Blue arrows on the chart mark buy entry points. This condition occurs when the Aroon Up line crosses the Aroon Down line or forms in higher ranges.

Moreover, an increase in the oscillator value near the +3 range shows that buyer strength is significantly active, reinforcing the bullish market momentum.

Indicator in a Downtrend

Red arrows on the chart indicate sell entry signals. These warnings occur when the Aroon Down line crosses the Aroon Up line or stabilizes in higher ranges.

Immediately after this setup, consecutive red candlesticks appear, the chart enters a bearish correction phase, and the sell entry zone is confirmed.

New Aroon Up and Down Indicator Settings

The image below shows the settings panel of the New Aroon Up and Down Indicator:

• Period: Defines the number of periods for indicator calculation
• Show Arrows: Enable or disable displaying arrows on the chart
• Arrow Size: Specify the size of the arrows
• Up Arrow Color: Choose the color of bullish arrows
• Down Arrow Color: Choose the color of bearish arrows
• Alerts ON: Enable or disable general alerts
• Message Alert: Display alerts as text messages on the platform
• Email Alert: Send alerts via email
• Sound Alert: Play an audio alert when a signal occurs
• Sound File: Select a custom audio file for alerts
• Lookback: Number of past candlesticks to analyze

Conclusion

The New Aroon Up and Down Indicator combines visual signals and an oscillator fluctuating in the ±3 range to identify precise entry and exit points.

Blue arrows aligned with the Aroon Up crossover indicate the beginning of bullish momentum, while red arrows confirm increasing seller strength.

The oscillator’s movement toward higher positive ranges strengthens the bullish trend, while its descent into negative areas highlights the continuation of bearish pressure.