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.
Supported Trade Types
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
Number of candles (or time periods) before an action is taken.
This Indicator is useful for identifying and confirming trend reversals.