OPEN-SOURCE SCRIPT
[KA] Rate of Change
Rate of Change (ROC)
Given a source series, calculates a running Rate of Change -- simply the percentage difference between the current value of said source to the value N bars back.
One nicety here, compared to the stock tradingview indicator is allowance to force plot certain bounds. This allows more visibility on the relative movement of the series within the plotted bounds.
For example, you know the particular bounds for a timeframe, and can visibly see when those bounds are violated.
See:
StockCharts ROC Explanation
Inputs:
Given a source series, calculates a running Rate of Change -- simply the percentage difference between the current value of said source to the value N bars back.
One nicety here, compared to the stock tradingview indicator is allowance to force plot certain bounds. This allows more visibility on the relative movement of the series within the plotted bounds.
For example, you know the particular bounds for a timeframe, and can visibly see when those bounds are violated.
See:
StockCharts ROC Explanation
Inputs:
- Source Series, anything indicator series on chart
- N Bars, the reference no. of bars to compare change since.
- Mandatory % Bounds, if value specified, this +value and -value, will be plotted
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.
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
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.
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.