Aroon
Aroon Indicator
Description
The Aroon system was developed by Tushar Chande to
highlight the start of a new trend and to measure trend strength. The Aroon
indicator consists of two lines, 'Aroon(up)' and 'Aroon(down)'. It takes a
single parameter which is the number of time periods to use in the calculation.
Aroon(up) is the amount of time (on a percentage basis) that has elapsed between
the start of the time period and the point at which the highest price during
that time period occurred. If the stock closes at a new high for the given
period, Aroon(up) will be +100. For each subsequent period that passes without
another new high, Aroon(up) moves down by an amount equal to (1 / # of periods)
x 100. See also AroonOsc.
Category
Trend Indicators
Parameters
N ( Default: 25
Min: 0 Max: 1000 )
Chart Script
Up:(N-HHVBARS(C,N))/N*100;
Down:(N-LLVBARS(C,N))/N*100;