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"Aroon" Forex Indicator

The “Aroon Indicator” is a popular member of the “Oscillator” family of technical indicators. Tushar Chanda developed the Aroon Indicator in 1995 to help traders determine the strength of a trend and whether pricing behavior was favoring a trend or sideways action. Traders use the “Up and Down” indicator lines to judge the strength of a trend, as absolute values signify strength, but simultaneous changes reflect a market that has yet to make up its mind.

The Aroon Indicator is classified as an “oscillator” since the values fluctuate between calculated upper and lower boundaries. The indicator chart typically has two lines, an “Up” version and a “Down” version, which simultaneously measure the momentum in either direction. When polar opposites occur, a peak or valley is occurring, typical of overbought or oversold conditions.

Aroon Indicator Formula

The Aroon Indicator is not common on all Metatrader trading software releases, but the calculation formula sequence involves these straightforward steps:

  1. Choose a period “N” for the “Aroon Indicator” (Standard is “14”);
  2. AroonUp = 100 * ((N – Number of periods since highest high)/N);
  3. AroonDown = 100 * ((N – Number of periods since lowest low)/N);
 

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. 

 

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