Simple Aroon AM
- Indikatoren
- Andriy Matviyevs'kyy
- Version: 10.0
The presented indicator is the author's implementation of the classic Aroon indicator.
The Aroon indicator was developed in 1995 by the Indian trader Tushar Chand.
Chand's origin played a role in choosing an unusual name for the indicator. "Aroon" is translated from Sanskrit as "Light of the morning dawn".
The formula for calculating the classic Aroon indicator:
- Aroon-Up = ((specified number of periods) - (number of periods since the formation of the maximum)) / (specified number of periods) * 100.
- Aroon-Dn = ((specified number of periods) - (number of periods since the formation of the minimum)) / (specified number of periods) * 100.
Thus, with a continuous upward trend, the value of Aroon-Up will be equal to 100, and Aroon-Down, respectively, 0. With a continuous downward trend - vice versa.
The indicator allows you to select the calculation method (based on the closing price or maximum / minimum price values).
The indicator also allows you to set up a signal line to identify points of strengthening or weakening the current trend.
Thus, the indicator signals both a change in trend direction and local changes in trend strength. The indicator does not repaint on fully formed bars.
The indicator signals are sent after the bar on which the signal appeared has finished forming. Signals are marked both in the oscillator window and on the price chart.
The indicator allows you to set up notifications about its signals to a mobile terminal and e-mail.
Configurable parameters:
- Aroon_Period - the data period for calculating the indicator;
- Aroon_Factor - a parameter affecting the sensitivity of the indicator (cannot be greater than Aroon_Period - 2);
- Aroon_Type - the price type for calculating the indicator;
- Signal_Line - the value for the signal line (0-100);
- Number_of_bars_calculated - the number of bars on which the indicator will be calculated and displayed (> 300);
- M_Signal_on_Oscillator - displaying the main signal on the oscillator;
- A_Signal_on_Oscillator - displaying an additional signal on the oscillator;
- M_Signal_on_Chart - displaying the main signal on the price chart;
- A_Signal_on_Chart - displaying an additional signal on the price chart;
- Alerts - the indicator displays a dialog box containing information about the indicator signal;
- Send_Notification - the indicator sends a notification to mobile terminals whose MetaQuotes ID is specified in the settings window on the "Notifications" tab;
- Send_Mail - the indicator sends an email to the address specified in the settings window on the "Mail" tab.
Attention:
It should be taken into account that any market is constantly changing and there is no guarantee that methods that were effective in the past will be effective in the future.
To minimize potential losses, you should regularly optimize the product parameters, study the results of its work and withdraw part of the profit received.
It is recommended that before using the product on a real account, you test its work on a demo account on the same market and with the same broker where you plan to trade.
With respect and best wishes,
Andriy Matviyevs'kyy
P.S.
If you liked this product, I would be grateful for a fair assessment - positive user reviews motivate the author, and reasonable criticism allows us to make products better.
I suggest visiting my page where you will find many unique author's works that are the result of many years of studying exchange trading and FOREX trading.
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