Aroon Oscillator

[eSignal]

File Name: ArnOsc.efs

Description:
Aroon Oscillator

Formula Parameters:
Length : 14

Notes:
This formula requires the AroonUp.efs and AroonDown.efs formulas which
must be in the same folder.
Developed by Tushar Chande in 1995, the Aroon is an indicator system
that can be used to determine whether a stock is trending or not and
how strong the trend is. "Aroon" means "Dawn's Early Light" in Sanskrit
and Chande choose that name for this indicator since it is designed to
reveal the beginning of a new trend.
The Aroon indicator consists of two lines, Aroon(up) and Aroon(down).
The Aroon Oscillator is a single line that is defined as the difference
between Aroon(up) and Aroon(down). All three take a single parameter which
is the number of time periods to use in the calculation. Since Aroon(up)
and Aroon(down) both oscillate between 0 and +100, the Aroon Oscillator
ranges from -100 to +100 with zero serving as the crossover line.
Aroon Oscillator indicator is calculated according to this formula:
AroonOscillator = AroonUp - AroonDown


Download File:
ArnOsc.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 Oscillator
    
Version:            1.0  05/15/2009
    
Formula Parameters:                     Default:
    Length                              14
    
Notes:
    This formula requires the AroonUp.efs and AroonDown.efs formulas which 
    must be in the same folder.
    Developed by Tushar Chande in 1995, the Aroon is an indicator system 
    that can be used to determine whether a stock is trending or not and 
    how strong the trend is. "Aroon" means "Dawn's Early Light" in Sanskrit 
    and Chande choose that name for this indicator since it is designed to 
    reveal the beginning of a new trend.
    The Aroon indicator consists of two lines, Aroon(up) and Aroon(down). 
    The Aroon Oscillator is a single line that is defined as the difference 
    between Aroon(up) and Aroon(down). All three take a single parameter which 
    is the number of time periods to use in the calculation. Since Aroon(up) 
    and Aroon(down) both oscillate between 0 and +100, the Aroon Oscillator 
    ranges from -100 to +100 with zero serving as the crossover line.
    Aroon Oscillator indicator is calculated according to this formula:
    AroonOscillator = AroonUp - AroonDown

**********************************/

function preMain() {
    setStudyTitle("Aroon Oscillator");
    setCursorLabelName("ArnOsc",0);
    setDefaultBarFgColor(Color.red,0);
    var fp1 = new FunctionParameter("nInputLength", FunctionParameter.NUMBER);
        fp1.setName("Length");
        fp1.setLowerLimit(1);
        fp1.setDefault(14);
}

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

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