AroonDownCall of technical indicator Aroon for its Down value over N periods.
Syntax:
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AroonDown[N] |
Calculation:
The indicator is composed of 2 lines, Aroon Up and Down that represent the number of days since the most recent x-period high for Aroon Up and x-period low for Aroon Down.
For example, if a stock market makes a new x-day high, the Aroon Up = 100; On the other hand, if a stock has not made a new high for x days, the Aroon Up = 0.
Interpretation :
This indicator can help to detect trends. An uptrend can be detected when the Aroon Up stays above 70 while the Aroon Down is below 30 and vice-versa for a downtrend. The crossover of both lines can also be signal of a new trend.
Example:
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N = 20 myAroonDown = AroonDown[N] if(myAroonDown > 50 ) THEN SIGNAL = 1 ELSE SIGNAL = -1 ENDIF RETURN SIGNAL coloured(221,33,33) |
