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### Aroon Indicators by Tushar Chande for Metastock

The Aroon Indicator is a range bound, technical indicator that is made up of two separate indicators (Aroon-Up and Aroon-Down) designed to measure how many periods have passed since the price has recorded an n-period high or low with ‘n’ being the number of periods chosen by the trader. For example a 14 Day Aroon-Up will take the number of days since the price last recorded a 14 day high and then calculate a number between 0 and 100. A 14 Day Aroon-Down will do the same thing except is will calculate a number based on the number of days since a 14 day low. This number is intended to quantify the strength of a trend (if any). The closer the number is to 100, the stronger the trend. Aroon is not only good at identifying trends, it is also a useful tool for identifying periods of consolidation.

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### Indicator / Formula

100 * ( 14 - ( ( If(Ref(H,-1) = HHV(H,14) ,1 , If(Ref(H,-2) = HHV(H,14) ,2 ,If(Ref(H,-3) = HHV(H,14) ,3, If(Ref(H,-4) = HHV(H,14) ,4, If(Ref(H,-5) = HHV(H,14 ) ,5 ,If(Ref(H,-6) = HHV(H,14) ,6, If(Ref(H,-7) = HHV(H,14),7, If(Ref(H,-8) = HHV(H,14) ,8 , If(Ref(H,-9) = HHV(H,14) ,9, If(Ref(H,-10) = HHV(H,14) ,10, If(Ref(H,-11) = HHV(H,14) ,11 ,If(Ref(H,-12) = HHV(H,14) ,12, If(Ref(H,-13) = HHV(H,14) ,13, If(Ref(H,-14) = HHV(H,14) ,14, 0 ) ) ) ) ) ) ) ) ) ) ) ) ) )) ) ) / 14

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