The Aroon technical analysis indicator by Tushar Chande. The Aroon ind 0

Posted on 17, June 2013

in Category SID


Description for Aroon SID 737

The Aroon technical analysis indicator by Tushar Chande. The Aroon indicator is built by measuring the number of bars that have passed since prices have reached new highs (for aroon up) or new lows (aroon down).

The Aroon technical analysis indicator by Tushar Chande. The Aroon ind/sid The logic for this technical analysis indicator:

#The Aroon technical analysis indicator by Tushar Chande.

#The Aroon indicator is built by measuring the number of bars that have passed since prices 
#have reached new highs (for aroon up) or new lows (aroon down). There are three main ways 
#to interpret this indicator:

#1) Look for crossovers
#2) When either of the aroons are at extremes
#3) When aroon up and aroon down move in parallel


my ($period)=@_;
#Validate the periods
ValidatePeriods($period);
my $n=$period+1;
#Calculate the Aroon up line
my $aroonup=(HighestBar(High,$n)/$n)*100;
#Calculate the Aroon down line
my $aroondown=(LowestBar(Low,$n)/$n)*100;
#Set the name 
SetColumnName($aroonup    ,"$name($period):Up");
SetColumnName($aroondown  ,"$name($period):Down");
return ($aroonup,$aroondown);

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