Rate of Change w/ Moving Average

This is a small spin on the Rate of Change (ROC) indicator where I overlay a simple moving average of the indicator over the prior days.

Release Notes

Adjusted the color of the area underneath or above the curve to be green or red depending on whether the ROC is greater than or less than the SMA of the ROC.

Release Notes

Altered colors so that the SMA is green when positive and red when negative in a way that's unrelated to the ROC value.

Release Notes

Color the horizontal zero line axis green or red dependent upon whether the ROC is positive or negative so there is an indication on the base indicator crossover point.

Release Notes

Added two additional signal states:
- a cooling uptrend when the ROC falls below a rising moving average with a default color of light blue to look like an icy wind
- a recovering downtrend when the ROC rises above a falling moving average with a default color of purple to look like a forming bruise

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

For quick access on a chart, add this script to your favorites — learn more here.

chuckination

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Open-source script

For quick access on a chart, add this script to your favorites — learn more here.

chuckination