Aroon Up/Down
Tue, Apr 15The Aroon Up/Down technical indicator helps to determine whether the price is trending or moving sideways. It was created by Tushar Chande, who chose the term “aroon” because it translates to “dawn’s early light” or “the transition from night to morning” in Sanskrit.
This indicator consists of two lines: Aroon Up and Aroon Down. Aroon Down indicates how close the current bar is to the most recent lowest Low bar within the last N bars, while Aroon Up measures how close the current bar is to the most recent highest High bar in the same timeframe. The Aroon Up/Down indicator ranges from 0 to 100, with a default period of 14 days.
How to Use Aroon Up/Down
If the price reaches a new 14-day high, Aroon Up will equal 100. Conversely, if the price hits a new 14-day low, Aroon Down will equal 100. If there is no new high within 14 days, Aroon Up will be 0, and if there is no new low in the same period, Aroon Down will also be 0.
Similar to the ADZ indicator, the Aroon indicator is utilized to assess whether the market is trending. Additionally, the Aroon Oscillator, which represents the difference between the Aroon Up and Aroon Down values, is a related technical indicator.
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