Download indicator: Aroon_Oscillator_v1.mq4
Trading with Aroon Oscillator involves the following signals:
Aroon Oscillator line above the zero — suggestion of a bullish market.
The further the Oscillator line is from Zero level, the stronger the trend.
The idea behind Aroon Oscillator
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.
Aroon Oscillator Formula
Aroon Oscillator = AroonUp - AroonDown.
Aroon Forex charts example
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.