Aroon Oscillator

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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Calculation

//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;