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2011.08.02 12:59
Indicators

Aroon Oscillator - indicator for MetaTrader 5

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Published by:
Nikolay Kositsin
Views:
7558
Rating:
votes: 18

Real author:

Tushar Chande

In the Sanskrit language "aroon" means "dawn's early light". This indicator predicts price changes from trend to flat market conditions.

It can be calculated using the following equation:

Aroon Oscillator = Bearish indicator - Bullish indicator

where:

Bullish indicator = [(N periods - N periods from the greatest maximum / N periods] * 100
Bearish indicator = [(N periods - N periods from the lowest minimum) / N periods] * 100

AroonOscillator analysis includes three main signals.

  1. Reaching critical values -100 and +100 indicates a strong downward or upward trend.
  2. Aroon Up = +50 and Aroon Down = -50 levels breakout increasingly or decreasingly respectively indicates beginning of a trend.
  3. Oscillator position between Aroon Up = +50 and Aroon Down = -50 levels indicates a weak trend or its complete absence.

Aroon Oscillator

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/389

Aroon Aroon

Aroon indicator created by Tushar Chande indicates if a long-term trend is going to an end or just pausing a little before a new movement.

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