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Aroon Oscillator

Download Aroon Oscillator.cs script Download Aroon Oscillator.mq4 script

Trading with Aroon Oscillator involves the following signals:

  • Aroon Oscillator line above the zero — suggestion of a bullish market.
  • Aroon Oscillator line below zero — a bearish market.

The further the Oscillator line is from Zero level, the stronger the trend.

When values are near Zero line, the market is trending nowhere.

Aroon oscillator is based on Aroon Indicator. Aroon Oscillator is a trend-following indicator that illustrates the strength of a current trend and its potentials to last.

How to interpret Aroon indicator

An oscillator that oscillate between -100 and 100.

It oscillates around zero line, defining times when AroonUp and AroonDown lines of Aroon Indicator cross each other.

Conclusion

The positive value of Aroon Oscillator indicates an uptrend, while the negative value indicates a downtrend. The higher the absolute value of Aroon Oscillator, the stronger the trend.

 

Display/hide source code 
using System;
using System.Collections;
using System.Collections.Generic;
using System.Text;
using PTLRuntime.NETScript;
using System.Drawing;
 
namespace ind
{
        //---------------------------------------------------
        // Project: Aroon
        // Type: Indicator
        // Author: PFSoft LLC
        // Company: PFSoft LLC /www.pfsoft.com/
        // Copyright: (C) PFSoft LLC Dnepopetrovsk. Ukraine
        // Created: Nov, 28,2006
        //---------------------------------------------------
    public class AROON : NETIndicator
    {
  
        public AROON()
            : base()
        {
                ProjectName = "Aroon";
                Comments = "Reveals the beginning of a new trend";
            SetIndicatorLine("line1", Color.Lime, 1, LineStyle.SimpleChart);
            SetIndicatorLine("line2", Color.Teal, 1, LineStyle.IsoDotChart);
            SetIndicatorLine("line3", Color.Red, 1, LineStyle.SimpleChart);
            SetIndicatorLine("line4", Color.Red, 1, LineStyle.IsoDotChart);
            SeparateWindow = true;
        }
 
        [InputParameter("Period of loking back:", 0)]
        public int IndPeriod = 14;
                [InputParameter("Up signal line:", 1, 1, 100, 2, 1)]
        public double UpSignalLine = 70;
                [InputParameter("Down signal line:", 2, 1, 100, 2, 1)]
        public double DownSignalLine = 30;
        
        public const int AROON_UP_LINE = 0;
                public const int AROON_DOWN_LINE = 1;    
                public const int UP_SIG_LINE = 2;
                public const int DOWN_SIG_LINE = 3;   
        
        public override void OnQuote()
        {
                // Setting value of signal lines
                    platform.SetValue(UP_SIG_LINE, 0, UpSignalLine);
                    platform.SetValue(DOWN_SIG_LINE, 0, DownSignalLine);
                    // Getting max and min prices for period
                    int count = platform.BarsCount(platform.Symbol, platform.Period);
                    int i = 0; 
                    int period = 0;
                    double high = ptl.High;
                    double low = ptl.Low;
                    int perHigh = 0;
                    int perLow = 0;
                    while( (i<count) && (period<IndPeriod))
                    {
                        // Skipping empty bar
                        if(!ptl.IsEmpty(i))
                        {
                            double price; price = ptl.High[i];
                            if(price>high)
                            {
                                high = price;
                                perHigh = period;
                            };
                            price = ptl.Low[i];
                            if(price<low)
                            {
                                low = price;
                                perLow = period;
                            };
                            period += 1;    
                        };
                        i += 1;
                    };
                    // Getting Aroon up and down lines
                    double dPeriod = IndPeriod;  // Here we're transforming integer value to double for real division
                    platform.SetValue(AROON_UP_LINE, 0, (1.0 - perHigh/dPeriod)*100.0);
                    platform.SetValue(AROON_DOWN_LINE, 0, (1.0 - perLow/dPeriod)*100.0);
 
        }
    }    
}
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