The Aroon indicator stock, invented by Tushar Chande in 1995 measures the strength and direction of the trend of a market.
The Aroon indicator consists of:
- Aroon Up: upward curve measuring the force of bulls or buyers, calculated on the highest and the number of periods since the last highest
- Aroon Down: irregular curve measuring the force of bears or sellers, calculated on the lowest and the number of periods since the last lower.
HTF or Higher Time Frame: option to select a time frame (time unit) different from the current time frame for calculating the indicator.
Technical analysis of multiple time frames allows the investor to identify the general trend of short-term market and long term to anticipate the entry and exit points of the trade with a global vision of the market.
If the signals correspond to the different time frames, the probability of success increases: the trading signal is stronger and more reliable.
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aroon_htf.mq5
aroon.mq5
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Interpretation Rules - Signals From Trading
The indicator oscillates between 0 and 100.
- Higher readings at 70 are considered strong: strong trend
- Lower readings at 30 are considered low.
- The area between levels 30 and 70 represents a flat area, not trader (no trend)
* Buy signal : Feeling uptrend
. The curve Aroon Up is above the curve Aroon Down
. The curve Aroon Up is above level 70
* Selling signal: Feeling downtrend
. The curve Aroon Down is above the curve Aroon Up
. The curve Aroon Down is above level 70
Read more about the rules and trading signals:
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