Rate of Deviation (Indicator)

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Input Information

Name	Expression	Default	Description
Price	Numeric	Close	Value used in rate of deviation calculations.
Length	Numeric	20	Bars over which to calculate the rate of deviation value.
BaseLevel	Numeric	100	Value used as the baseline for the indicator.
ColorCellBGOnAlert	TrueFalse	True	True to change the background color of a grid cell when an alert occurs (see following input); otherwise False to not color cell.
BackgroundColorAlertCell	Numeric	DarkGray	The background color value for a grid cell when an alert occurs (see previous input)

Market Synopsis

The Rate of Deviation indicator calculates and displays the amount the current price varies above or below the average price over Length bars. A deviation value greater than the base level indicates that the current price is higher than the price average while a deviation less than the base level indicates that the current price is lower than the price average. It is available for Chart Analysis and RadarScreen.

Alert Criteria

When enabled, an alert will occur when the Rate of Deviation crosses over or under the BaseLevel. In RadarScreen, a message will be shown in the CROSS BASE column indicating the type of cross.

Plot Information

Number	Name	Default Color	Description
Plot1	RateOfDev	Yellow	Plots the rate of deviation value.
Plot2	BaseLevel	Green	Plots the reference base line that indicates where the price and average price are the same.
Plot3	CROSS BASE	Cyan	Displays a message (grid only) when an alert occurs because the rate of deviation value crosses over or under the base level.

When applied to a chart, this indicator displays one plot and one reference line in a separate subgraph from the price data.