Rate of Chg (Indicator)

Input Information

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.

Market Synopsis

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.

Plot Information

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.

Related Function

RateOfChange