Technical Indicators
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Aroon
Aroon can be considered a momentum oscillator, but it is also used to spot trends. Aroon is represented by two lines, Aroon up and Aroon down, and fluctuate between 0 and 100. Aroon up measures the frequency of new highs during uptrends. If the price is continuously rising and making new highs, Aroon up will be 100 and Aroon down 0. However, when the price is not making new highs, it means that the uptrend is fading out and we can have a correction or trend reversal. If it starts making new lows, Aroon down will be 100 and Aroon up 0. It generates buy and sell signals through crossovers. When Aroon up crosses Aroon down upwards, the price can be initiating a positive trend and it signals a buy. On the other hand, when Aroon down crosses Aroon up upwards, it will send a sell signal.
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