The Rate of Change indicator (ROC) is a momentum oscillator. It calculates the percent change in price between periods. ROC takes the current price and compares it to a price "n" periods (user defined) ago. The calculated value is then plotted and fluctuates above and below a Zero Line. A technical analyst may use Rate of Change (ROC) for trend identification and identifying overbought and oversold conditions.
Read more about the Rate of Change
in TradingView wiki.