Hey fellow traders! Today, I'm excited to introduce you to the AroonSignal Expert Advisor (EA) designed specifically for MetaTrader 5. This handy tool uses signals from the Aroon indicator to help you make informed trading decisions.
So, how does it work? The AroonSignal EA generates a signal when a bar closes, and if you spot a new colored diamond, that's your cue! This diamond indicates a shift in the Aroon indicator, moving from overbought to oversold zones and vice versa. It’s all about spotting those market shifts!
To get started, place the AroonSignal.ex5 file into your terminal data folder under MQL5/Indicators. That’s it! You’re all set to harness the power of this EA.
During testing, we used the default input parameters for the Expert Advisor. It’s worth noting that we didn’t apply any Stop Loss or Take Profit settings during these tests, so keep that in mind when you're trading.
Fig. 1. The instances of history of deals on the chart.
Now, let’s dive into the testing results for 2011 using the USD/CHF on the H4 timeframe:
Fig. 2. Charts of testing results
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