the Rate-of-change indicator.
The name "Relative Strength Index" is slightly misleading as the
does not compare the of two securities, but rather
the internal strength of a single security. A more appropriate name
might be "Internal Strength Index." charts that compare
two market indices, which are often referred to as Comparative .
And in its turn, the Rate-of-Change ("ROC") indicator displays the difference
between the current price and the price x-time periods ago. The difference can
be displayed in either points or as a percentage. The displays
the same information, but expresses it as a ratio.
You can change long to short in the Input Settings
- For purpose educate only
- This script to change bars colors.
USDT (TRC20): TH29EEXa19vfwZNYvxdUuMxoFY5QDYLcWG
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.