Summary of "📌Swami Aroon Oscillator for MetaTrader 4/5 – Free – [TradingFinder]"
Summary
The video explains the Swami Aroon Oscillator, a free technical indicator available for MetaTrader 4 and MetaTrader 5 platforms via the TradingFinder website. This indicator is designed to assist traders in identifying trend direction, trend strength, and overbought/oversold market conditions.
Key Features & Usage
- The oscillator appears as a histogram at the bottom of the chart.
- Overbought zone: Oscillator line enters the 80 zone.
- Oversold zone: Oscillator line enters the 20 zone.
- Trend confirmation:
- A green background behind the 20 level signals an uptrend.
- A red background behind the range signals a downtrend.
- Traders can observe transitions such as:
- Oscillator line moving upward but still in the red zone (no uptrend confirmation yet).
- Histogram turning green confirming an uptrend.
- Oscillator entering overbought zone during a strong trend.
- Exiting overbought zone and background turning red indicating a downtrend.
- Entering oversold zone confirming continuation of the downtrend.
- Background turning green again indicating a short-term bullish correction.
Settings & Customization
- Start and end candle parameters: Define the range of historical candles used for calculation (default start at 6, end at 48 candles in the past).
- Maximum candles: Number of candles used for calculation and histogram display (default approximately 350).
- Oscillator line thickness: Adjustable white line thickness.
- Trend zone colors: Customizable colors for bullish (green) and bearish (red) trend backgrounds.
Trading Methodology
Use three confirmations for trade decisions:
- Main market trend.
- Oscillator line trend.
- Trend confirmation zones (green/red backgrounds).
Entry signals are taken when all confirmations align, for example, a bullish trend with the oscillator line rising and a green background.
Additional Notes
- The indicator helps in reading price action such as higher highs and higher lows during bullish phases.
- The video encourages user feedback and discussion.
- No explicit financial advice or mention of specific assets, tickers, or sectors is provided.
Disclaimer
- No specific stocks, ETFs, bonds, commodities, or macroeconomic context were mentioned.
- No explicit performance metrics, risk management techniques, or valuation frameworks were discussed.
Presenter / Source
TradingFinder (no individual presenter named).
Category
Finance
