Aroon & RSI Strategy
The cTrader Aroon Oscillator & the Relative Strength Index cBot strategy is a perfect combination to trade the markets identifying buy & sell opportunities. The Aroon indicators, developed by Tushar Chande in 1995, are a type of momentum oscillator. They help determine whether an asset is trending. Chande named his creation "Aroon," which means "Dawn's Early Light" in Sanskrit.
The Aroon indicators measure the time elapsed since the price last reached a new high or low and can be applied to any time frame. However, they are most commonly calculated using a 25-period interval.
Buy Trade Rules
- Aroon up crosses above the aroon down line
- RSI value crosses below the lower threhold for oversold.
Sell Trade Rules
- Aroon down crosses above the aroon up line
- RSI value crosses above the upper threhold for overbought.
Algo Strategy Builder
This strategy was built using the Algorithmic Strategy Building Tool with no coding experience. Full source code included.