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Published:

2018.10.25 18:35

Aroon_Filter.mq5 (8.8 KB) view

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Aroon Filter oscillator is based on Aroon indicator and is a modified Aroon Horn oscillator - the ratio to the calculation period has been removed.
The indicator displays a trend direction filtering minor fluctuations.

It features two adjustable parameters

Period - Aroon calculation period
Filter - filter size

Calculation:

AF = Up - Dn

where:

Up = 100.0 * (Period-MaxBar+index) / Period
Dn = 100.0 * (Period-MinBar+index) / Period
MaxBar, MinBar - High and Low prices index in the Period range
index - current bar index

A bullish trend is displayed in green
A bearish trend is displayed in red
Sorted out values are displayed in gray

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22183

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