Rate of Chg (Indicator)Analysis Techniques & Strategies
Rate of Chg (Indicator)
| Name | Expression | Default | Description |
| Price | Numeric | Close | Price used in calculating the Rate Of Change. |
| Length | Numeric | 14 | Number of bars to include for the Rate of Change calculation. |
| AlertLength | Numeric | 14 | Number of bars to determine the alert criteria. |
| ColorNormLength | Numeric | 14 | Number of bars over which to normalize the indicator for gradient coloring. |
| UpColor | Numeric | Cyan | Color to use for indicator values that are relatively high over ColorNormLength bars. Set to -1 to disable gradient color plotting. |
| DnColor | Numeric | Magenta | Color to use for indicator values that are relatively low over ColorNormLength bars. Set to -1 to disable gradient color plotting. |
| GridForegroundColor | Numeric | Black | Color to use for numbers in RadarScreen cells when gradient coloring is enabled, that is, when both UpColor and DnColor are set to non-negative values. |
The Rate of Change indicator calculates and plots the net change, expressed as a percent, between a bar's price, as specified by the input Price, and that price the number of bars ago specified in the input Length. The default settings plot the percent change for the close of each bar compared to the close of 10 bars earlier. Measuring current prices versus earlier prices sheds light on the pace of a trend and possible trend reversals. It may also be useful in identifying overbought and oversold conditions when the Rate of Change becomes extremely strong or weak.
| Number | Name | Default Color | Description |
| Plot1 | ROC | Cyan/Magenta | Plots the Rate of Change as a line. |
| Plot2 | ZeroLine | Dark Green | Plots a reference line at zero. |
When applied to a chart, this indicator displays two plots in a separate subgraph from the price data.
Set either UpColor and/or DnColor to -1 to disable gradient plot coloring. When disabled, Plot1 color is determined by settings in indicator properties dialog box. Plot2 (ZeroLine) color always comes from indicator properties dialog box.
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