There are three adjustable parameters:
- Period – calculation period;
- Overbought – overbought level;
- Oversold – oversold level.
Calculation:
Aroon Up[i] = 100 * (Period - i + PosMax) / Period Aroon Dn[i] = 100 * (Period - i + PosMin) / Period
where:
PosMax, PosMin – numbers of bars for the highest and lowest prices within the predefined Period.
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