Aroon

[eSignal]

File Name: Aroon.efs

Description:
Aroon

Formula Parameters:
Length : 14

Notes:
This formula requires the AroonUp.efs and AroonDown.efs formulas which
must be in the same folder.
The Aroon indicator was developed by Tushar Chande in 1995. Aroon is used to
measure the presence and strength of trends.
Aroon can be drawn either as two lines, the AroonUp and AroonDown, or an
Aroon Oscillator representing the difference between the AroonUp and the
AroonDown lines. The AroonUp and AroonDown lines oscillate between 0 and 100,
while the Aroon Oscillator oscillates between -100 and +100.
AroonUp for a given time period is calculated by determining how much time
(on a percentage basis) elapsed between the start of the time period and the
point at which the highest closing price during that time period occurred.
AroonUp will be 100 when the instrument is setting new highs for the period.
Conversely, AroonUp will be 0 if the instrument has continually dropped throughout
the period. AroonDown is calculated in a similar manner, expect looking for lows
as opposed to highs.


Download File:
Aroon.efs
AroonUp.efs
AroonDown.efs



EFS Code:

/*********************************
Provided By:  
    eSignal (Copyright c eSignal), a division of Interactive Data 
    Corporation. 2009. All rights reserved. This sample eSignal 
    Formula Script (EFS) is for educational purposes only and may be 
    modified and saved under a new file name.  eSignal is not responsible
    for the functionality once modified.  eSignal reserves the right 
    to modify and overwrite this EFS file with each new release.

Description:        
    Aroon 
    
Version:            1.0  05/14/2009
    
Formula Parameters:                     Default:
    Length                              14
    
Notes:
    This formula requires the AroonUp.efs and AroonDown.efs formulas which 
    must be in the same folder.
    The Aroon indicator was developed by Tushar Chande in 1995. Aroon is used to 
    measure the presence and strength of trends.
    Aroon can be drawn either as two lines, the AroonUp and AroonDown, or an 
    Aroon Oscillator representing the difference between the AroonUp and the 
    AroonDown lines. The AroonUp and AroonDown lines oscillate between 0 and 100, 
    while the Aroon Oscillator oscillates between -100 and +100.
    AroonUp for a given time period is calculated by determining how much time 
    (on a percentage basis) elapsed between the start of the time period and the 
    point at which the highest closing price during that time period occurred. 
    AroonUp will be 100 when the instrument is setting new highs for the period. 
    Conversely, AroonUp will be 0 if the instrument has continually dropped throughout 
    the period. AroonDown is calculated in a similar manner, expect looking for lows 
    as opposed to highs. 
**********************************/

function preMain() {
    setStudyTitle("Aroon UP/DN");
    setCursorLabelName("ArnUp",0);
    setCursorLabelName("ArnDn",1);
    setDefaultBarFgColor(Color.green,0);
    setDefaultBarFgColor(Color.red,1);
    var fp1 = new FunctionParameter("nInputPeriod", FunctionParameter.NUMBER);
        fp1.setName("Length");
        fp1.setLowerLimit(1);
        fp1.setDefault(14);
}

var bInit = false;
var xArnUp = null;
var xArnDn = null;

function main(nInputPeriod) {
    if (bInit == false) {
        xArnUp = efsExternal("AroonUP.efs", nInputPeriod);
        xArnDn = efsExternal("AroonDown.efs", nInputPeriod);
        bInit = true;
    }
    return new Array(xArnUp.getValue(0), xArnDn.getValue(0));
}