Adds some depth to the traditional rate of change (ROC) indicator. Instead of just having one ROC line with a single lookback period, this takes a minimum lookback period, n, and plots 20 ROC lines with lookback periods of n, 2n, 3n, ..., 20n. These lines will appear green when greater than zero, red when less than zero, and yellow when equal to zero by default.
Then it plots the average of those 20 ROC's as a yellow filled area so as to make it easier to see where the balance (or "tide") of the ROC waves are located.
Can't figure out how to use this indicator exactly.. can someone help this novice please?
Knowcoinery
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very nice, ive been using this and loving it.
Harpingo
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A cool idea would be to have another indicator based on this one that shows how squished up the ROCs are since that seems to be a precursor to bigger runs. Like a straight running line that gets skinny and fat. Cheers!
Harpingo
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I caught a 33 tick move on 1min chart in the micro e-mini S&Ps this morning thanks to this indicator set on a lookback period of 14. Followed it up past $3100. Thanks I'm loving it!