Rate Of Change - Absolute Value — Indicator by Charles

roc absolute value rate of change rateofchange

Measures the period's change in terms of the instrument's value (e.g. pip, dollar, etc) instead of as a percentage. I generally use it on a daily time frame with a period=1 to see how the current day's move compares with prior days' moves in order to gain a perspective into how this move ranks historically.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Want to use this script on a chart?

study(title="Rate Of Change", shorttitle="ROC")
source = close, length = input(9, minval=1)
roc = (source - source[length])
plot(roc, color=blue, title="ROC")
hline(0, title="Zero Line")