Aroon EA Metatrader 4 Forex Robot

The Aroon EA Metatrader 4 Forex Robot is a very simple automated trading software that trades based on the Aroon technical indicator.

The robot is designed to first spot the strength of a trend based on the Aroon indicator logic and then calculates the data into an oscillator that triggers buy and sell entry during an up and down trending market respectively.

The default optimization parameters and filters that comes with the Aroon expert advisor can be tweaked but I find the basic logic being quite good.

Interestingly, the Aroon EA also uses a WPR oscillator to obtain good entry and exit price levels.

The Aroon EA works best on the 15-minute time frame or higher.

Attach the EA to low spread forex pairs for best performance.

Free Download

Download the “AroonEA.mq4” MT4 robot

Strategy Tester Report

Find below the Aroon EA forex robot strategy tester report for the AUD/USD forex pair on the 15- minute chart.

Overall Performance

The EA made a total profit of $1962.37 from a total of 785 trades. The largest winning trade generated $83.90 in profits, while the largest losing trade generated a loss of-$174.24.

Statistics:

Bars in test: 149567 ticks modelled

Initial deposit: $10000.00

Total net profit: $1962.37

Total trades: 785

Largest profit trade: $83.90

Largest loss trade: -$174.24

Consecutive wins: 3

Consecutive losses: 1

Download

Download the “AroonEA.ex4” Metatrader 4 robot

MT4 Forex Robot Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: Expert advisor

Input Parameters: Magic Number of the EA, Static lot size, WPR Periods, Open WPR value (enter 20 for use <80 BUY and >20 SELL), Close WPR value(same as above), Stop loss pips (0 for WPR close), Take profit pips

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: Aroon Oscillator

Installation

Copy and paste the AroonEA.mq4 into the MQL4 Experts folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Experts (paste here)

Share Now!