Description
Aroon indicator is composed of two lines. Aroon Up Line reflects the number of bars since the high was reached within a specified time frame. Aroon Down Line reflects the number of bars since the low reached within the same time as Aroon Up Line time frame.
Formula
UpLineArray[] = 100.0 / timeFrame * (timeFrame - (endTimeIdx - highestIdx))
DownLineArray[] = 100.0 / timeFrame * (timeFrame - (endTimeIdx - lowestIdx))
Interpretation
Aroon Up and Aroon Down Lines oscillate between 0 and 100. Aroon Up staying above 70 while Aroon Down moving below 30 indicates a strong uptrend. Downtrend is signaled when Aroon Down moves above 70 while Aroon Up falls below 30.
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inteliCharts Predictive Analytics - Calculating Most Probable Future Stock Prices
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