Aroon Buy & Sell (Custom TFs)

Here's a detailed explanation of your Pine Script titled "Aroon Buy & Sell (Custom TFs)":

🧠 Strategy Overview:
This script generates buy and sell signals using the Aroon indicator across two different timeframes:

* One for detecting the primary trend (Trend Timeframe)
* One for confirming precise entry signals (Signal Confirmation Timeframe)

📊 Key Components:

1. User Inputs

* trendTF: The timeframe used to determine overall trend direction (e.g., 5-minute).
* signalTF: The faster timeframe for confirming trade signals (e.g., 1-minute).
* aroonLength: Lookback period for the Aroon calculation (default 14).
* cooldownPeriod: Number of bars to wait before allowing a new signal.

2. Aroon Calculation Function
Calculates Aroon Up and Aroon Down values using the number of bars since the highest high and lowest low.

3. Multi-Timeframe Aroon Values
Uses request.security to compute Aroon values on both trendTF and signalTF.

4. Trend Detection

* A bullish trend is defined when Aroon Up crosses above Aroon Down on the trend timeframe.
* A bearish trend is defined when Aroon Down crosses above Aroon Up.

5. Signal Logic

* Buy Signal: When the overall trend is bullish and Aroon Down = 100 on the signal timeframe.
* Sell Signal: When the trend is bearish and Aroon Up = 100 on the signal timeframe.

6. Cooldown Mechanism
Prevents back-to-back signals by enforcing a cooldown (e.g., 20 bars) after each buy/sell.

7. Signal Plotting & Alerts
Plots buy/sell signals directly on the chart and supports alerts for automation.

📈 Visual Output:

* BUY label below the bar when buy conditions are met.
* SELL label above the bar when sell conditions are met.

🔔 Alerts:
Two alertconditions are defined to trigger alerts whenever a buy or sell signal occurs.