Aroon Horn oscillator is based on Aroon indicator. The indicator displays a trend direction filtering minor fluctuations.
It features two adjustable parameters
- Period - Aroon calculation period
- Filter - filter size
Calculation:
AH = 10.0 * (Up-Dn) / Period
where:
Up = 100.0 * (Period-MaxBar+index) / Period
Dn = 100.0 * (Period-MinBar+index) / Period
MaxBar, MinBar - High and Low prices index in the Period range
index - current bar index
A bullish trend is displayed in green
A bearish trend is displayed in red
Sorted out values are displayed in gray