This tutorial shows how Aroon Indicator AFL Trading System can be used on charts of Amibroker to Trade.
Strategy Premise
The Aroon Indicator derived its name from the Sanskrit word ‘Arun’ which means early light in the morning. So, this name was chosen by its developer Tushar Chande because it is used to identify emerging trends and reversal movements.
The Aroon-up calculates the number of candles since a new high has been made. While, the Aroon-down measures the number of candles since a new low is made. Hence, we use a large Aroon period- 100 to smoothen it for fewer signals.
Strategy Logic
Buy: Buy Aroon-Up when it crosses above Aroon-Down.
Sell: Sell when Aroon-Up when it crosses below Aroon Down.
Amibroker Settings
Follow the steps given below to start Algo trading with Aroon indicator AFL on Amibroker to trade in options.
1: Complete Jump Start setup before deploying the strategy on the chart of Amibroker.
2: Download AFL Aroon Indicator System AFL from here and Aroon Indicator AFL from here. In Amibroker, Go to Formula editor and paste the AFL here.
3: Add Separate Entry Exit Automation AFL after the strategy AFL and hit Apply.
4: Right Click on the chart and go Parameters to adjust the inputs of the strategy.
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