Tradingview Aroon Oscillator


SUBMITTED BY: Guest

DATE: June 17, 2014, 12:23 a.m.

FORMAT: Text only

SIZE: 871 Bytes

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  1. // This is my first script. Enjoy!
  2. // Author itisCalvin @itisCalvin on Twitter
  3. //
  4. //Aroon Oscillator is difference between Arron Up and Aroon Down. Normally Aroon is plotted with the two distinct lines.
  5. //This indicator fluctuates between -100 and +100 with 0 as the mid line. When oscillator is positive there tends to
  6. //be upward trend bias, and downward trend bias when this oscillator is negative. The default value for this oscillator
  7. //is 25, while Aroon is 14.
  8. study("Aroon Oscillator (itisCalvin)", shorttitle="Aroon Oscillator")
  9. Period = input(25, minval=1)
  10. AroonUp = 100 * (highestbars(high, Period+1) + Period)/Period
  11. AroonDown = 100 * (lowestbars(low, Period+1) + Period)/Period
  12. AroonOscillator = AroonUp - AroonDown
  13. hline(0, linestyle=(solid))
  14. plot(AroonOscillator, color=#E96300, style=area, transp=(70))

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