AroonThe Aroon positive line, is drawn as the number of periods since the last high within a limited range of periods, and then normalized be in the range of 0-100. The Aroon negative line is drawn as the number of periods since the last low within a range of periods, and is similarly normalized to be in the range of 100-0. The Aroon Oscillator is just the positive line minus the negative line.
You may adjust the period over which the Aroon data is produced by using the edit button in the studies dialog.
The Aroon study, is said to show a number of features of a stocks movement, when the positive and negative line are moving close together, then the stock is a not forming anything definite trend. When the positive line falls below 50 a uptrend is failing and should be exitted or sold. Similar in the negative line rises above 50 a downtrade is failing and should be exitted or sold.