Aroon ForLoop [InvestorUnknown]

6월 29일

Overview

The Aroon ForLoop indicator is designed to calculate an array of Aroon values over a range of lengths, providing trend signals based on various moving averages. It offers flexibility with different signal modes and visual customizations.

User Input

• Start Length (a) and End Length (b): Defines the range for calculating Aroon values.
  
• MA Type (maType) and MA Length (c): Selects the moving average type (EMA, SMA, WMA, VWMA, TMA) and its length.
  
• Calculation Source (s): Specifies the data source for calculations.
  
• Signal Mode (sigmode): Offers options like Fast, Slow, Thresholds Crossing, and Fast Threshold to generate signals.
  
• Thresholds: Configures long and short thresholds for signal generation.
  
• Visualization Options: Customizes bull and bear colors, and enables/disables bar coloring.
  
• Alert Settings: Chooses whether to wait for bar close for alert confirmation.
  

Signal Calculation

Signal Mode (sigmode): Determines the type of signal generated by the indicator. Options are "Fast", "Slow", "Thresholds Crossing", and "Fast Threshold".
1. Slow: is a simple crossing of the midline (0).
2. Fast: positive signal depends if the current MA > MA[1] or MA is above 0.99, negative signals comes if MA < MA[1] or MA is below -0.99.
3. Thresholds Crossing: simple ta.crossover and ta.crossunder of the user defined threshold for Long and Short.
4. Fast Threshold: signal changes if the value of Aroon MA changes by more than user defined threshold against the current signal

Pine Script®

Visualization Settings

• Bull Color (colup): The color used to indicate bullish signals.
  
• Bear Color (coldn): The color used to indicate bearish signals.
  
• Color Bars (barcol): Option to color the bars based on the signal.
  

Custom Function

Pine Script®

Important Considerations

• Fast Responses: The Aroon ForLoop indicator is designed for quick identification of trend changes, making it ideal for fast-paced trading environments.
  
• Moving Average Types: Supports various MA types (EMA, SMA, WMA, VWMA, TMA) for adaptable smoothing of trend signals.
  
• Combination with Other Indicators: For more reliable signals, use this indicator in conjunction with other technical indicators.