OPEN-SOURCE SCRIPT
MisinkoMaster's Aroon Oscillator
Special Aroon Oscillator by MisinkoMaster
The Special Aroon Oscillator is a modified implementation of the traditional Aroon Oscillator designed to capture momentum shifts with reduced noise and lag.
Traditional Aroon calculations rely strictly on raw High and Low price extremes over a fixed period. This script incorporates a double-exponential smoothing mechanism on your chosen input source prior to measuring bar distance, providing cleaner zero-line crossovers and smoother trend transitions.
Key Features
Custom Smoothing Pre-Filter: Applies a smoothing calculation to the source series to filter out market noise before calculating high/low bar distances.
Dynamic Visual Cues: Renders an oscillator bounded between +100 and -100 with color-coded trend indicators, zero-line bounds, and background fills.
On-Chart Bar Coloring: Dynamically colors price candles directly on your chart to match the oscillator's prevailing directional bias.
Built-in Alert Conditions: Includes ready-to-use alerts for zero-line crossovers to notify you of bullish and bearish regime shifts.
How It Works
Calculations: The indicator smooths the chosen input source using the Smooth length. It then identifies the number of bars since the highest and lowest values of this smoothed series over the user-defined Length lookback.
Oscillator Formula: Oscillator = Aroon Up - Aroon Down
Above 0 (Green): Bullish trend state.
Below 0 (Red): Bearish trend state.
Bar Coloring: Price candles on the chart match the current oscillator state—green during bullish momentum and red during bearish momentum.
Inputs & Settings
Source (Default: Close): The price series used for calculation.
Length (Default: 28): The lookback window in bars used to identify recent highs and lows.
Smooth (Default: 14): The lookback length for the pre-smoothing filter.
How to Use
Zero Crossovers: Watch for the oscillator crossing above zero for potential bullish setups, or below zero for bearish setups.
Extremes (+100 / -100): Values near +100 indicate persistent buying pressure, while values near -100 indicate strong selling pressure.
Built-in Alerts
Bullish Zero Cross: Triggers when the oscillator crosses above 0.
Bearish Zero Cross: Triggers when the oscillator crosses below 0.
The Special Aroon Oscillator is a modified implementation of the traditional Aroon Oscillator designed to capture momentum shifts with reduced noise and lag.
Traditional Aroon calculations rely strictly on raw High and Low price extremes over a fixed period. This script incorporates a double-exponential smoothing mechanism on your chosen input source prior to measuring bar distance, providing cleaner zero-line crossovers and smoother trend transitions.
Key Features
Custom Smoothing Pre-Filter: Applies a smoothing calculation to the source series to filter out market noise before calculating high/low bar distances.
Dynamic Visual Cues: Renders an oscillator bounded between +100 and -100 with color-coded trend indicators, zero-line bounds, and background fills.
On-Chart Bar Coloring: Dynamically colors price candles directly on your chart to match the oscillator's prevailing directional bias.
Built-in Alert Conditions: Includes ready-to-use alerts for zero-line crossovers to notify you of bullish and bearish regime shifts.
How It Works
Calculations: The indicator smooths the chosen input source using the Smooth length. It then identifies the number of bars since the highest and lowest values of this smoothed series over the user-defined Length lookback.
Oscillator Formula: Oscillator = Aroon Up - Aroon Down
Above 0 (Green): Bullish trend state.
Below 0 (Red): Bearish trend state.
Bar Coloring: Price candles on the chart match the current oscillator state—green during bullish momentum and red during bearish momentum.
Inputs & Settings
Source (Default: Close): The price series used for calculation.
Length (Default: 28): The lookback window in bars used to identify recent highs and lows.
Smooth (Default: 14): The lookback length for the pre-smoothing filter.
How to Use
Zero Crossovers: Watch for the oscillator crossing above zero for potential bullish setups, or below zero for bearish setups.
Extremes (+100 / -100): Values near +100 indicate persistent buying pressure, while values near -100 indicate strong selling pressure.
Built-in Alerts
Bullish Zero Cross: Triggers when the oscillator crosses above 0.
Bearish Zero Cross: Triggers when the oscillator crosses below 0.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
"Better to take a step back, than to stand stuck forever."
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
"Better to take a step back, than to stand stuck forever."
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.