HTS's Aroon Oscillator Indicator is a momentum Indicator, used by the Trade Bot, that measures the difference between Aroon-Up and Aroon-Down. It essentially combines the two Aroon Indicators into one. This indicator fluctuates between -100 and +100 with zero as the middle line. An upward trend is present when the oscillator is positive, while a downward trend exists when the oscillator is negative.
Aroon Oscillator is an Indicator that has the following formula:
Aroon Up = 100 x (25 - Candles Since 25-candle High)/25
Aroon Down = 100 x (25 - Candles Since 25-candle Low)/25
Aroon Oscillator = Aroon-Up - Aroon-Down
The only parameter that user needs to set is the period length (25 is used in the formulas above). The indicator gives a buy/long signal when the Aroon Oscillator value is below 0 and a sell/short signal when the Aroon Oscillator value is equal to or greater than 0.
As with other indicators, the signals can be remapped to suit your strategy, e.g. buy/long when the Aroon Oscillator is equal to or above 0 for example, or Exit position when value is below 0.
- Exchange Website to monitor
- Currency Pair to monitor for trade signals
- Update Speed
- Trade Signals
- Number of candles (or time periods) before an action is taken.
This Indicator is useful for identifying and confirming trend reversals.