Dear Traders

The Aroon Oscillator v1 indicator for MetaTrader4 is an indicator 
that was developed by Tushar Chande and has the ability to spot the 
formation of a new trend as well as also define such trends momentum.

The Aroon_Oscilator_v1 indicator fluctuates between -99 and +99 and has 0.00 as its middle line.

When the Aroon_Oscilator_v1 indicator is positive - trend is up. 
When the Aroon_Oscilator_v1 indicator is negative - trend is down.

We can explain the strength of a trend by considering the indicators 
positive or negative threshold i.e. when the Aroon_Oscilator_v1 indicator 
breaks above the +50 level, it suggest a strong bullish move, while 
a break below the -50 mark indicates a strong bearish move.

The Aroon_Oscilator_v1 indicator is essentially used in defining the overall trend bias.

The indicator will stay in the positive zone when the market is experiencing 
a strong bullish move and will also remain in the negative zone when the market 
is in a strong bearish push.

When trend is unclear(flat) and price is moving sideways - the indicator 
frequently moves above or below the zero signal line.

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Currency pairs: Any

Platform: Metatrader 4

Time frames: Any (H1 and above recommended)
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Recommendations: 

1) Use the indicator to determine trend direction and strength
and to confirm signals of you main indicator/strategy. 

2) Although not recommended, you could also experiment using this 
indicator as your main BUY/SELL signals tool and confirm its signals 
with another indicator of your choice. If you decide to do so, enter
only when the bars are either Blue or Red (White bars are not enough)
and only go for smaller TakeProfits.

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Good luck in your trading!