Regd: Aroon indicator- doubt
ABOVE IS THE CAHRT
http://stockcharts.com/help/doku.php?id=chart_school:technical_indicators:aroon
this is how the indicator exactly works.
http://stockcharts.com/help/doku.php?id=chart_school:technical_indicators:aroon
as soon as the latest hi is higher than the look back period (30 days or any other number) the value of arronup
consequently when negative values occur the indicator can go negative. a new 30 day low would
result in -1.
you histogram suggests that aroonup-aroondown is display where obviously a negative trend is establishing.
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hi guys,
I have a doubt with aroon indicator......
Those who know how aroon works can please guide me how aroon ( 30 day) has gone below 0 in gold daily chart in last few bars.