The Aroon Oscillator is a variant of the Aroon study that combines the two lines: Aroon(up) with Aroon(down) by subtracting them (up – down) to produce a single line that oscillates between -100 and 100. The user may change the period length. This indicator’s definition is further expressed in the condensed code given in the calculation below.
How To Trade Using Aroon Oscillator
No trading signals are calculated for this indicator
How To Access in MotiveWave
Go to the top menu, choose Study>Tushar Chande>Aroon Oscillator
or go to the top menu, choose Add Study, start typing in this study name until you see it appear in the list, click on the study name, click OK.
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//period = user defined, default = 25
//MOE = more or equal, LOE = less or equal
//index = current bar number
high_ind = 0; low_ind = 0; highest = Double.NEGATIVE_INFINITY; lowest = Double.POSITIVE_INFINITY; // Find the periods for the highest high and lowest low n = period; for(i = index-period+1; i LOE index; i++) bhigh = getHigh(i), blow = getLow(i); if (bhigh MOE highest) highest = bhigh; high_ind = n; endIf if (blow LOE lowest) lowest = blow; low_ind = n; enfIf n--; endFor high_ind--; low_ind--; up = ((period - high_ind)/period) * 100; down = ((period - low_ind)/period) * 100; Plot: ao = up - down;