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Wednesday, 17 December 2008 15:33 |
Developed by Tushar Chande in 1995, the Aroon indicator is specifically designed to identify trending and non-trending times. The Aroon is considered a bounded oscillator because it values Range between 0 and 100. The following is an example of the Arron Indicator.
While the Aroon Down is above the Aroon Up then price is considered too have a downward bias. If Up is over the Down, as in this example, then price is considered to have an Upward bias, though trends are not identified until the indicator is closer to 100.

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