Aroon_v1_2
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This custom technical indicator is designed to help traders visualize market momentum by measuring how recently the price has reached its highest and lowest points within a specific timeframe. It provides a visual representation of "strength" in both upward and downward directions, helping users identify whether the market is trending or moving sideways.
Core Logic Overview
The script operates by looking back at a user-defined number of candles (the Aroon Period) to calculate two distinct values: an Up Trend value and a Down Trend value.
Instead of simply looking at the current price, the logic focuses on the location of the extreme highs and lows. Here is how the calculation works step-by-step:
- Identifying Extremes: The tool scans the most recent set of candles to find the exact point where the highest high occurred and the point where the lowest low occurred within that period.
- Measuring Recency: It calculates the distance (in terms of candles) between the current moment and those extreme points.
- If a new high was reached very recently, the "Up" value increases.
- If a new low was reached very recently, the "Down" value increases.
- Scaling the Data: These distances are converted into a percentage-based scale (from 0 to 100). This allows traders to see a standardized view of momentum:
- A high score suggests that the price is actively breaking new ground in that direction.
- A low score suggests that the price hasn't reached a significant new peak or trough for some time, potentially indicating a lack of momentum or a cooling-off period.
Visual Output
The indicator produces two separate lines on a dedicated sub-window:
- The Up Line (Dodger Blue): Represents the strength of the bullish trend.
- The Down Line (Red): Represents the strength of the bearish trend.
By observing these two lines together, users can better understand the market's behavior. For example, when one line is high and the other is low, it often suggests a strong trending move in one direction. When both lines are low, it may indicate that the market is consolidating or moving range-bound without clear direction.
//+------------------------------------------------------------------+
//| Custom Aroon_v1.mq4 |
//| rafcamara |
//| Has corrected - Ramdass |
//+------------------------------------------------------------------+
#property copyright "rafcamara"
#property link "rafcamara@yahoo.com"
//---- indicator settings
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 DodgerBlue
#property indicator_color2 Red
//---- indicator parameters
extern int AroonPeriod=10;
extern int CountBars=300;
//---- indicator buffers
double AroonUpBuffer[];
double AroonDnBuffer[];
int HighBarBuffer;
int LowBarBuffer;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- 2 additional buffers are used for counting.
IndicatorBuffers(2);
SetIndexBuffer(0, AroonUpBuffer);
SetIndexBuffer(1, AroonDnBuffer);
//---- drawing settings
SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,1);
SetIndexStyle(1,DRAW_LINE,STYLE_SOLID,1);
IndicatorDigits(1);
//---- indicator buffers mapping
if(!SetIndexBuffer(0,AroonUpBuffer) && !SetIndexBuffer(1,AroonDnBuffer))
Print("cannot set indicator buffers!");
//---- name for DataWindow and indicator subwindow label
IndicatorShortName("Aroon Up & Dn_v1("+AroonPeriod+")");
//---- initialization done
return(0);
}
//+------------------------------------------------------------------+
//| Aroon Up & Dn |
//+------------------------------------------------------------------+
int start()
{
if (CountBars>=Bars) CountBars=Bars;
SetIndexDrawBegin(0,Bars-CountBars+AroonPeriod+1);
SetIndexDrawBegin(1,Bars-CountBars+AroonPeriod+1);
double AroonUp,AroonDn;
int ArPer,limit,i;
int UpBarDif,DnBarDif;
// int HighBarBuffer;
// int LowBarBuffer;
int counted_bars=IndicatorCounted();
ArPer=AroonPeriod; //Short name
//---- check for possible errors
if(counted_bars<0) return(-1);
if(AroonPeriod<1) return(-1);
//---- initial zero
if(counted_bars<1)
{
for(i=1;i<=ArPer;i++) AroonUpBuffer[CountBars-i]=0.0;
for(i=1;i<=ArPer;i++) AroonDnBuffer[CountBars-i]=0.0;
}
//---- last counted bar will be recounted
//if(counted_bars>0) counted_bars--;
limit=CountBars-AroonPeriod;
//----Calculation---------------------------
for( i=0; i<limit; i++)
{
HighBarBuffer = Highest(NULL,0,MODE_HIGH,ArPer,i); //Periods from HH
LowBarBuffer = Lowest(NULL,0,MODE_LOW,ArPer,i); //Periods from LL
UpBarDif = i-HighBarBuffer; //Period substraction
DnBarDif = i-LowBarBuffer; //Period substraction
AroonUpBuffer[i]=100+(100/ArPer)*(UpBarDif); //Adjusted Aroon Up
AroonDnBuffer[i]=100+(100/ArPer)*(DnBarDif); //Adjusted Aroon Down
}
return(0);
}
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