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v0.8.6: update indicator docs, ndepend tooling, ALMA refactor, gitignore cleanup
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@@ -13,9 +13,7 @@
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| **PineScript** | [aroonosc.pine](aroonosc.pine) |
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- The Aroon Oscillator condenses the dual-line Aroon system into a single zero-centered value by computing $\text{AroonUp} - \text{AroonDown}$.
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- Parameterized by `period`.
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- Output range: $-100$ to $+100$.
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- Requires `period` bars of warmup before first valid output (IsHot = true).
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- **Similar:** [Aroon](../aroon/Aroon.md), [CMO](../../momentum/cmo/Cmo.md) | **Complementary:** ADX for trend strength | **Trading note:** Aroon Up minus Aroon Down; positive = uptrend, negative = downtrend.
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- Validated against TA-Lib, Skender, and Tulip reference implementations where available.
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The Aroon Oscillator condenses the dual-line Aroon system into a single zero-centered value by computing $\text{AroonUp} - \text{AroonDown}$. This distills the temporal battle between fresh highs and fresh lows into a bounded $[-100, +100]$ metric where positive values indicate bullish recency dominance and negative values indicate bearish. Unlike recursive indicators that accumulate floating-point drift, the Aroon Oscillator is purely windowed — its value depends only on data within the lookback period, making it stateless in the long term and immune to initialization poisoning. The step-function output reflects discrete events (new extremes appearing or aging out) rather than smooth price trajectories.
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@@ -114,4 +112,4 @@ Trivially parallelizable subtraction step after Aroon computation.
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- Chande, T.S. — *The New Technical Trader* (John Wiley & Sons, 1995)
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- Chande, T.S. — *Beyond Technical Analysis* (John Wiley & Sons, 1995)
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- PineScript reference: `aroonosc.pine` in indicator directory
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- PineScript reference: `aroonosc.pine` in indicator directory
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