Indicator example

Aroon Indicator

Readonly source from tests/EasyLanguage/David_EasyLanguage, generated Pine Script v6, and an expiry-free example EX5.

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Original EasyLanguage

{ Search Tag: WA-Aroon Indicator }
{ Reference: Tushar S. Chande, "A Time Price Oscillator", Technical Analysis of
Stocks & Commodities, V. 13:9 (369-374) }
inputs:
int AroonLength( 25 ) [
DisplayName = "AroonLength",
ToolTip = "Enter the number of bars to be used in the calculation of the indicator."],
double OverBought( 70 ) [
DisplayName = "OverBought",
ToolTip = "Enter the level of the indicator at which you consider the market to be overbought (too high)."],
double OverSold( 30 ) [
DisplayName = "OverSold",
ToolTip = "Enter the level of the indicator at which you consider the market to be oversold (too low)."];
variables:
double AroonUpValue( 0 ),
double AroonDnValue( 0 );
AroonUpValue = AroonUp( AroonLength );
AroonDnValue = AroonDown( AroonLength );
Plot1( AroonUpValue, !( "AroonUp" ) );
Plot2( AroonDnValue, !( "AroonDn" ) );
Plot3( OverBought, !( "OverBought" ) );
Plot4( OverSold, !( "OverSold" ) );
{ ** Copyright © TradeStation Technologies, Inc. All Rights Reserved **
** TradeStation reserves the right to modify or overwrite this analysis technique
with each release. ** }

{ Search Tag: WA-Aroon Indicator }

{ Reference: Tushar S. Chande, "A Time Price Oscillator", Technical Analysis of 
  Stocks & Commodities, V. 13:9 (369-374) }

inputs:
	int AroonLength( 25 ) [
		DisplayName = "AroonLength", 
		ToolTip = "Enter the number of bars to be used in the calculation of the indicator."],
	
	double OverBought( 70 ) [
		DisplayName = "OverBought", 
		ToolTip = "Enter the level of the indicator at which you consider the market to be overbought (too high)."],
	
	double OverSold( 30 ) [
		DisplayName = "OverSold", 
		ToolTip = "Enter the level of the indicator at which you consider the market to be oversold (too low)."];
	 
variables:
	double AroonUpValue( 0 ),
	double AroonDnValue( 0 );
 	
AroonUpValue = AroonUp( AroonLength );
AroonDnValue = AroonDown( AroonLength );

Plot1( AroonUpValue, !( "AroonUp" ) );
Plot2( AroonDnValue, !( "AroonDn" ) );
Plot3( OverBought, !( "OverBought" ) );
Plot4( OverSold, !( "OverSold" ) );


{ ** Copyright © TradeStation Technologies, Inc.  All Rights Reserved ** 
  ** TradeStation reserves the right to modify or overwrite this analysis technique 
     with each release. ** }

Generated Pine Script v6

//@version=6
indicator("AroonIndicator", overlay=true)
// dependencies:
__el_aroon_down(int length) =>
length <= 1 ? 100 : 100 * (length - 1 + ta.lowestbars(low, length)) / (length - 1)
// dependencies:
__el_aroon_up(int length) =>
length <= 1 ? 100 : 100 * (length - 1 + ta.highestbars(high, length)) / (length - 1)
aroonlength = input.int(25, "aroonlength")
overbought = input.float(70.0, "overbought")
oversold = input.float(30.0, "oversold")
var float aroonupvalue = 0
var float aroondnvalue = 0
float __el_plot1 = na
color __el_plot1_color = color.blue
float __el_plot2 = na
color __el_plot2_color = color.blue
float __el_plot3 = na
color __el_plot3_color = color.blue
float __el_plot4 = na
color __el_plot4_color = color.blue
__el_call1 = __el_aroon_up(aroonlength)
__el_call2 = __el_aroon_down(aroonlength)
if bar_index >= 24
aroonupvalue := __el_call1
aroondnvalue := __el_call2
__el_plot1 := aroonupvalue
__el_plot2 := aroondnvalue
__el_plot3 := overbought
__el_plot4 := oversold
plot(__el_plot1, title="AroonUp", color=__el_plot1_color)
plot(__el_plot2, title="AroonDn", color=__el_plot2_color)
plot(__el_plot3, title="OverBought", color=__el_plot3_color)
plot(__el_plot4, title="OverSold", color=__el_plot4_color)

//@version=6
indicator("AroonIndicator", overlay=true)

// dependencies:
__el_aroon_down(int length) =>
    length <= 1 ? 100 : 100 * (length - 1 + ta.lowestbars(low, length)) / (length - 1)

// dependencies:
__el_aroon_up(int length) =>
    length <= 1 ? 100 : 100 * (length - 1 + ta.highestbars(high, length)) / (length - 1)

aroonlength = input.int(25, "aroonlength")
overbought = input.float(70.0, "overbought")
oversold = input.float(30.0, "oversold")
var float aroonupvalue = 0
var float aroondnvalue = 0
float __el_plot1 = na
color __el_plot1_color = color.blue
float __el_plot2 = na
color __el_plot2_color = color.blue
float __el_plot3 = na
color __el_plot3_color = color.blue
float __el_plot4 = na
color __el_plot4_color = color.blue
__el_call1 = __el_aroon_up(aroonlength)
__el_call2 = __el_aroon_down(aroonlength)
if bar_index >= 24
    aroonupvalue := __el_call1
    aroondnvalue := __el_call2
    __el_plot1 := aroonupvalue
    __el_plot2 := aroondnvalue
    __el_plot3 := overbought
    __el_plot4 := oversold
plot(__el_plot1, title="AroonUp", color=__el_plot1_color)
plot(__el_plot2, title="AroonDn", color=__el_plot2_color)
plot(__el_plot3, title="OverBought", color=__el_plot3_color)
plot(__el_plot4, title="OverSold", color=__el_plot4_color)

Compiled MetaTrader 5 example

The EX5 uses the original script filename stem and has no PineAnywhere expiration guard.

Download AroonIndicator.ex5