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Aroon Indicators, by Tushar
Chande
MetaStock Formula
For interpretation of the Aroon indicators refer to Tushar
Chande's article Time Price Oscillator in the September 95,
Technical Analysis of Stocks & Commodities magazine.
| The Aroon Down |
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100* (14 - (( If (Ref
(L,-1) = LLV( L ,14 ) ,1 , If ( Ref (L ,-2 ) = LLV ( L,14 )
,2 , If ( Ref (L ,- 3 ) =
LLV( L,14 ) ,3 ,If ( Ref (L ,-4 ) = LLV ( L ,14 ) ,4 ,If
(Ref ( L ,-5 ) = LLV ( L ,14 ) ,5 ,If (Ref (L ,-6 ) =
LLV( L,14 ) ,6 ,If ( Ref (L ,-7 ) = LLV ( L,14 ) ,7 ,If (Ref
( L ,-8 ) = LLV ( L ,14 ) ,8 ,If (Ref( L ,-9 ) =
LLV( L,14 ) ,9 ,If ( Ref (L,-10) = LLV (L,14 ) ,10 ,If (Ref
(L ,-11) = LLV( L,14 ) ,11 ,If (Ref(L,-12 ) =
LLV(L ,14) ,12,If ( Ref (L,-13) = LLV (L ,14 ) ,13 ,If ( Ref
( L,-14) = LLV( L,14 ) ,14 ,0) ) ) ) ) ) ) ) ) ) ) ) ) ) ) )
) / 14 |
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| The Aroon Up |
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100 * ( 14 - ( ( If (Ref (H
,-1) = HHV(H ,14 ) ,1 ,If (Ref (H ,-2 ) = HHV (H ,14 ) ,2
,If (Ref (H ,- 3 ) =
HHV(H ,14 ) ,3, If (Ref (H ,-4 ) = HHV(H ,14 ) ,4 ,If (Ref
(H ,-5 ) = HHV(H ,14 ) ,5 ,If (Ref (H ,-6 ) =
HHV(H ,14 ) ,6 ,If (Ref (H,-7 ) = HHV(H ,14 ) ,7 ,If (Ref (H
,-8 ) = HHV(H ,14) ,8 , If (Ref (H ,-9 ) =
HHV(H ,14) ,9 ,If (Ref (H ,-10 ) = HHV(H ,14 ) ,10 ,If (Ref
(H ,-11 ) = HHV(H ,14) ,11 ,If (Ref (H ,-12 ) =
HHV(H ,14) ,12 ,If (Ref(H ,-13) = HHV(H ,14 ) ,13 ,If (Ref
(H ,-14 ) = HHV(H ,14 ) ,14 ,0 ) ) ) ) ) ) ) ) ) ) ) ) ) ) )
) ) / 14 |
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The Aroon Oscillator = Aroon up - Aroon down.
** The UP and DOWN Aroon indicators are to be plotted in the same
inner-window.
** These are constructed using 14 time periods, you can alter this
by replacing every entry of 14 with the desired time period.
Note: The Aroon indicators are built in indicators, in MetaStock
6.0 for Windows and higher.
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