Aroon Oscillator Strategy opens an initial long position when the Aroon Oscillator crosses above the zero line, and pyramids into the position if price dips below average price while RSI crosses above 30. Partial exits occur when the Aroon Oscillator crosses below 90. Plots Aroon lines, boundaries, and background fills in a separate indicator pane.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Aroon Length
int
169
aroonLength
RSI Length
int
13
rsiLength
Stop Loss%
int
5
stopLoss
Exit when Aroon Osc cross down zero
bool
true
exitOnAroonOscCrossingDown
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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