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.
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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.
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Altered colors so that the SMA is green when positive and red when negative in a way that's unrelated to the ROC value.
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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.
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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
Thanks to @koryu for the original design of this indicator.
Sylynt056
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U raw!
niku1973
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Excellent tool to make right decision. In fact your script gives the visual information about the second derivative as well. I loved it.
chuckination
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Ah, thanks. I was studying markets a few years back, and I code professionally, so making an indicator for what I wanted after I couldn't find it in the scripts wasn't too hard. Not shabby for under 100 lines of code, eh?
Flow2022
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In my opinion this is a creative and elegant piece of work. I encourage you to keep expressing yourself. Thank you. Be well and may you realize your objectives whatever they may be.. with gratefulness for your creative energy...
chuckination
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@Flow2022, heh, thank you, but considering I took another author's script and made it work exactly as Marber on Markets describes this indicator, I consider this merely an iterative development.
caspian72
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Hey buddy.. I have been searching for an ROC with a EMA instead of just the ROC/MA. i so appreciate that you have this public, but i have absolutely no idea how to program this stuff!!!! how hard would it be to change the code to EMA>??