The Aroon Forex scalper indicator for MT5 works well for scalping any currency pair on any time frame.
However, most Forex scalpers use it exclusively on the M1 and M5 trading charts for rapid trade entry and exit.
The Aroon buy/sell trend is very easy to understand:
- A green Aroon histogram represents a buy trend.
- A red Aroon histogram represents a sell trend.
Feel free to experiment with the different Aroon parameters and values to suit your preference.
Deploy the Aroon scalper indicator on any currency pair, stocks, indices, Gold,…
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Aroon Forex Scalper Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 5 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With Aroon Forex Scalper Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open buy scalping trade when the Aroon scalper Forex indicator starts drawing a green histogram on the chart. This is the buy entry point.
Place stop loss below short-term support, or use your own stop loss placement method.
Exit the buy trade for a reward to risk 1.5:1 ratio or use a fixed profit target, for instance 15 pips on the 1-min scalper chart.
Sell Trigger: Open sell scalping trade when the Aroon scalper Forex indicator starts drawing a red histogram on the chart. This is the sell entry point.
Place stop loss above short-term resistance, or use your own stop loss placement method.
Exit the sell trade for a reward to risk 1.5:1 ratio or use a fixed profit target, for instance 25 pips on the 5-min scalper chart.
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Time frame, calculation period, price to use for high, price to use for low, alerts, colors, width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, RSI,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT5
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend
Copy and paste the indicator in the MT5 indicators data folder.
Then restart the MT5 terminal and attach it to any chart.