Aroon Filter oscillator is based on Aroon indicator and is a modified Aroon Horn oscillator – the ratio to the calculation period has been removed.
The indicator displays a trend direction filtering minor fluctuations.
It features two adjustable parameters
Period – Aroon calculation period
Filter – filter size
Calculation:
AF = Up - Dn
where:
Up = 100.0 * (Period-MaxBar+index) / Period
Dn = 100.0 * (Period-MinBar+index) / Period
MaxBar, MinBar - High and Low prices index in the Period range
index - current bar index
A bullish trend is displayed in green
A bearish trend is displayed in red
Sorted out values are displayed in gray
