Hello everyone, on the Market (https://o-s-a.net/market/products ) added the first free indicator.
The author of the indicator is technical analyst Tushar Chande.
The Aroon indicator is presented in the form of an oscillator. Its purpose is to determine market movements, predicting further trend movement in accordance with overbought and oversold levels.
The Aroon indicator consists of two Up & Down curves and an oscillator. The curves are calculated as follows:
• Aroon Up = 100 * (n - the number of candles from the last maximum) /n.
• Aroon Down = 100 * (n - the number of candles from the last minimum) /n/
n – the period for which the indicator needs to be calculated. The standard value is 14.
Calculation of the oscillator:
• Abs (Arоon Up – Arron Down).
How to use (data interpretation):
For two curves, you can interpret them as follows:
• If the Aroon Up line is above the Aroon Down line, it indicates an uptrend.
• If the Aroon Down line is above the Aroon Up line, it indicates a downtrend.
• If the Aroon Up line is above 70, it indicates a strong uptrend.
• If the Aroon Down line is above 70, it indicates a strong downtrend.
• If the line falls below 50, it means that the trend is weakening.
• If the line falls below 30, it indicates a possible change in the direction of the trend.
The indicator is taken from https://www2.wealth-lab.com/wl5wiki/AroonDown.ashx
You can download the indicator here: https://o-s-a.net/market/item/17
Download, use, successful algorithms!