OPEN-SOURCE SCRIPT
Aroon Modified: binarized and smoothed
Three views of Aroon Indicator - original, binarized and smoothed.
More 'readable' variations of this indicator will help to appreciate its role and integrate into trading strategies more readily.
Note that the smoothed Aroon can be viewed as a channel indicator when normalized to price series.
More 'readable' variations of this indicator will help to appreciate its role and integrate into trading strategies more readily.
Note that the smoothed Aroon can be viewed as a channel indicator when normalized to price series.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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