Aroon
Trend-detection indicator showing how recently the n-period high and low were set; near-100 Aroon Up signals a strong uptrend.
Aroon Up = ((n − Periods Since n-Period High) / n) × 100; Aroon Down = ((n − Periods Since n-Period Low) / n) × 100
Aroon measures time elapsed since the highest high (Aroon Up) and lowest low (Aroon Down) within a lookback window (default 25). If the highest high was just set, Aroon Up = 100; if it was set 25 bars ago, Aroon Up = 0.
When Aroon Up is near 100 and Aroon Down is near 0, a strong uptrend is in place. Crossovers of the two lines signal potential trend changes. The Aroon Oscillator (Up − Down) condenses this into a single line between −100 and +100; values above zero favour longs.