Aroon Indicator

The Aroon indicator is used for identifying the direction and strength of a trend and also the change from a trend to a flat. The ‘number of time periods’ parameter is required for calculating the indicator. The number of periods from the moment of appearance of the high and low values within a time range is calculated when the indicator is being built.

Aroon(up) — shows the number of periods, which have passed after the day’s high in the market. Aroon(down) works similarly but after the day’s low.

Aroon(up) = (number of periods minus the number of periods after the high) / number of periods * 100%

Aroon(down) = (number of periods minus the number of periods after the low) / number of periods * 100%

Aroon(up) and Aroon(down) fall in the range between 0 and 100.

How the indicator looks like in the chart:

Image 27052

The indicator has the following parameters:

Image 27053

Settings

Period - setting the indicator period value.

Drawing

Panel - selection of the indicator location in the chart:

  • New panel
  • Chart

Highest, Lowest - highest value and lowest value.

Show value - showing the indicator value on the price scale.

Show zero values - showing zero values.

Scale - if this option is ON, the scale will be calculated automatically based on the minimum and maximum indicator values, so that the indicator would be accommodated in the chart.

Color

Visual type - visual setting of the indicator display in the chart:

  • Line
  • Histogram
  • Hash
  • Block
  • Cross
  • Square
  • Dots
  • Up arrow
  • Down arrow
  • Axis label
  • Hide

Line style - setting of the line display style:

  • Solid
  • Dash
  • Dot
  • Dash - dot
  • Dash - dot - dot

Width - setting of the indicator line width.

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