OPEN-SOURCE SCRIPT
Fusion: Aroon trend matching with dual thresholds 2
Same as previous one, just making the code publicly available.
You set an upper and lower threshold and when both are met a direction is determined.
I use this primarily as a confirmation indicator of a trend.
The addition to the normal Aroon is simply the threshold settings and the visuals. There is even an option to see the length you are using which I find useful when the length is long, say 40+ so you don't forget that it's considerably longer than how it's normally used.
Additionally it defaults to the normal colors we are familar with for up and down (long/short) but you can choose Aroon colors if you wish with just a checkbox.
The length is certainly not optimized so set to whatever suits your needs. The Aroon default is 14, I used 6 for one particular case so that's what it ended up being for this indicator.
I default to a dark theme so if you are using a light theme you may need to change some brightness settings.
Finally, if you find value please do make a comment, give a thumbs up etc.
Enjoy and good luck!
You set an upper and lower threshold and when both are met a direction is determined.
I use this primarily as a confirmation indicator of a trend.
The addition to the normal Aroon is simply the threshold settings and the visuals. There is even an option to see the length you are using which I find useful when the length is long, say 40+ so you don't forget that it's considerably longer than how it's normally used.
Additionally it defaults to the normal colors we are familar with for up and down (long/short) but you can choose Aroon colors if you wish with just a checkbox.
The length is certainly not optimized so set to whatever suits your needs. The Aroon default is 14, I used 6 for one particular case so that's what it ended up being for this indicator.
I default to a dark theme so if you are using a light theme you may need to change some brightness settings.
Finally, if you find value please do make a comment, give a thumbs up etc.
Enjoy and good luck!
Script open-source
In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.
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