Category: Advanced Indicator Set 1
Input parameters
Name
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Setting
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Default
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High
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High Time Series
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High
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Period
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Integer >= 1
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14
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Calculations
Suggested by Tushar Chande [1], the Aroon Up indicator is a plot measuring how close the current bar is to the most recent highest High bar found in the last Period bars. The actual plotted value ranges from 0 to 100. Assuming a default Period of 14 days, if a security makes a new 14 day high, the Aroon Up=100. When the security has not made a new high for 14 days (in other words, the 14-day high is at the 14th bar back), the Aroon Up=0. For all other situations the Aroon Up is just a distance between the current bar and the most recent highest high bar divided by Period.
Aroon Up = 100 * (1 – (Number of days since the most recent highest High / Period))
References
1. Chande, Tushar, "A Time Price Oscillator", Technical Analysis of Stocks & Commodities, September 1995, v.13, no.9, p.369-374.
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