Color multi / multiinstrumentalny indicator Aroon, consisting of two lines: Aroon Up and Aroon Down.
The main function of the indicator is to make assumptions about the upcoming trend change.
The indicator can be used with any broker, no matter what the name of a financial instrument, as its name must be entered manually as an input parameter. If you enter a non-existent or incorrect name of a financial instrument you will receive an error message that this financial instrument is unknown (does not exist).
It is possible to paint the indicator lines.
The indicator can be used for manual or automatic trading advisor in the composition. readings of the indicator type buffer can be used for automated trading double:
- Bullish indicator line Aroon Up – 0 buffer.
- Bear line indicator Aroon Down – buffer 1.
interpretation of signals
The indicator can have several conditions related to the mutual arrangement of its lines – Aroon Up and Aroon Down:
- When the line reaches extremes.
- When the lines are resistant to certain ranges.
- When there is a parallel movement Aroon Up and Aroon Down.
- When intersection occurs Aroon Up and Aroon Down.
- Extremes and finding lines in the ranges:
- when the line Aroon Up reaches 100, It expected to strengthen the market.
- If the line Aroon Up persistently remains between 70 and 100, says a new uptrend.
- Similarly, if the line Aroon Up reaches zero, supposed weakness of the market.
- If Aroon Up It remains between 0 and thirty, says a new downtrend.
- The strong downward trend observed when Aroon Up persistently remains between 0 and thirty and at the same time Aroon Down persistently remains between 70 and 100.
- If the lines are parallel to each other at close range, can be expected to further strengthen the trend.
- when the line Aroon Down It crosses the bottom line Aroon Up, there is a weakening of the market, and we must expect lower prices.
- when the line Aroon Up It crosses the bottom line Aroon Down, It notes the potential strengthening of the market and we can expect price increases.
Is considered the most reliable signal obtained on day interval compared forming suppositories, e.g. hourly intervals.
- Currency_Name – the name of the financial instrument.
- Ind_period – the period for calculating the indicator.
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