Aroon Oscillator (AroonOSC)

The Aroon Oscillator is a trending study that measures whether an instrument is trending up, down, or consolidating. The Aroon study is composed of two lines, Aroon.Up and Aroon.Down, which measure the placement of the highest high or lowest low over a given period, measured as a percentage from 0 to 100. A high percentage for Aroon.Up and a low percentage for Aroon.Down indicates an uptrend, whereas the reverse indicates a downtrend.

The Oscillator is the difference of the Aroon.Up less Aroon.Down. Therefore, the range is +100 to -100. An uptrend would be values over 50, a downtrend would be values less than -50, and consolidation would be between those two marks.

Both studies use a period parameter. The Aroon study is comprised of two curves.

The example below is a 14-period Aroon study. To see different periods, modify the studies accordingly.

Study name: Aroon

Up

100 * (14 – If(High(@)= HiLevel(@,15), 0, If(High(@)[-1]= HiLevel(@,15),1,(If(High(@)[-2]= HiLevel(@,15),2,(If(High(@)[-3]= HiLevel(@,15),3,(If(High(@)[-4]= HiLevel(@,15),4,(If(High(@)[-5]= HiLevel(@,15),5,(If(High(@)[-6]= HiLevel(@,15),6,(If(High(@)[-7]= HiLevel(@,15),7,(If(High(@)[-8]= HiLevel(@,15),8,(If(High(@)[-9]= HiLevel(@,15),9,(If(High(@)[-10]= HiLevel(@,15),10,(If(High(@)[-11]= HiLevel(@,15),11,(If(High(@)[-12]= HiLevel(@,15),12,(If(High(@)[-13]= HiLevel(@,15),13,14)))))))))))))))))))))))))))/14

Or

100*(Period – “offset from current bar to the bar with largest high in the latest <Period+1> bars”)/Period

Down

100 * (14 - If(Low(@)=LoLevel(@,15), 0, If( Low(@)[-1]= LoLevel(@,15),1,(If( Low(@)[-2]= LoLevel(@,15),2,(If( Low(@)[-3]= LoLevel(@,15),3,(If( Low(@)[-4]= LoLevel(@,15),4,(If( Low(@)[-5]= LoLevel(@,15),5,(If( Low(@)[-6]= LoLevel(@,15),6,(If( Low(@)[-7]= LoLevel(@,15),7,(If( Low(@)[-8]= LoLevel(@,15),8,(If( Low(@)[-9]= LoLevel(@,15),9,(If( Low(@)[-10]= LoLevel(@,15),10,(If( Low(@)[-11]= LoLevel(@,15),11,(If( Low(@)[-12]= LoLevel(@,15),12,(If( Low(@)[-13]= LoLevel(@,15),13,14)))))))))))))))))))))))))))/14

Or

100*(Period – “offset from current bar to the bar with lowest low in the latest <Period+1> bars”)/Period

Study name: AroonOscillator

Aroon.Up(@,Period)- Aroon.Down(@,Period)

Aroon Oscillator Parameters