This indicator converts double lined Aroon indicator into a single line oscillator. It is simply obtained by subtracting Aroon down from Aroon Up. *If Oscillator points 100 value, it means there is a Strong Uptrend. *If Oscillator points values between 100 and 40, it means there is an uptrend. *If Oscillator points values between 20 and -20, it means no trend, it is sideways.But, when it is sideways; generally, oscillator makes FLAT LINES between 20 and -20 values. 0 value is pointed out when the trend is downward as well, which means aroon up=aroon down. *If Oscillator points values between -40 and -100, it means there is a downtrend. *If Oscillator points -100 value, it means there is a Strong downtrend. (20, 40) and (-20, -40) intervals are not mentioned, because; generally these are transition values and hard to comment, it will be more certain to wait till values are between or at the reference values given.
WoW! quite good. It identifies with Bollinger band, so this can be used instead of Bollinger band. You may also plan your trade based on the levels of the indicator.
mrgr888n
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that's nice actually. hope, U'll come back and continue further development of this.