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Aroon Indicators by Tushar Chande
rev. 01/06/97

For interpretation of the Aroon indicators refer to Tushar Chande's article "Time Price Oscillator" in the September, 95 Technical Analysis of Stocks & Commodities magazine.

Aroon Down

100* (14 - (( If(Ref(L,-1) = LLV(L,14) ,1,
If( Ref(L ,-2 ) = LLV(L,14) ,2 , If( Ref(L,-3) =
LLV(L,14) ,3, If( Ref(L,-4) = LLV(L,14) ,4,
If(Ref(L ,-5 ) = LLV(L,14) ,5 ,If(Ref(L,-6) =
LLV(L,14) ,6, If( Ref(L,-7) = LLV(L,14) ,7,
If(Ref(L ,-8 ) = LLV(L,14) ,8 ,If(Ref(L,-9) =
LLV(L,14) ,9, If( Ref(L,-10) = LLV(L,14) ,10,
If(Ref(L,-11) = LLV(L,14) ,11 ,If(Ref(L,-12) =
LLV(L,14) ,12, If( Ref(L,-13) = LLV(L,14) ,13,
If( Ref(L,-14) = LLV(L,14) ,14 ,0) ) ) ) ) ) ) ) ) ) ) ) ) )) ) ) / 14

Aroon Up

100 * ( 14 - ( ( If(Ref(H,-1) = HHV(H,14) ,1 ,
If(Ref(H,-2) = HHV(H,14) ,2 ,If(Ref(H,-3) =
HHV(H,14) ,3, If(Ref(H,-4) = HHV(H,14) ,4,
If(Ref(H,-5) = HHV(H,14 ) ,5 ,If(Ref(H,-6) =
HHV(H,14) ,6, If(Ref(H,-7) = HHV(H,14),7,
If(Ref(H,-8) = HHV(H,14) ,8 , If(Ref(H,-9) =
HHV(H,14) ,9, If(Ref(H,-10) = HHV(H,14) ,10,
If(Ref(H,-11) = HHV(H,14) ,11 ,If(Ref(H,-12) =
HHV(H,14) ,12, If(Ref(H,-13) = HHV(H,14) ,13,
If(Ref(H,-14) = HHV(H,14) ,14, 0 ) ) ) ) ) ) ) ) ) ) ) ) ) )) ) ) / 14

The Aroon Oscillator = Aroon up - Aroon down.

** The UP and DOWN Aroon indicators are to be plotted in the same inner-window.

** These are constructed using 14 time periods, you can alter this byreplacing every entry of 14 with the desired time period.

Note: The Aroon indicators are built in indicators, in MetaStock 6.0 for Windows.
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