I would like to present to you an indicator that I think is missing.
It is based on the ROC indicator (RATE OF CHANGE).
The ROC indicator is a measure of the rate of change in the exchange rate, as its name implies.
From which the angle of the slope of the change can be calculated. This angle is displayed on an oscillator.
The value of the oscillator can thus take max 90 and min -90 degrees as a result of the angle function calculation. Thus, the slope of the exchange rate can be continuously monitored on the indicator.
The length parameter is used to control how many candles should be included in the calculation, as is usually the case for all indicators, and a simple moving average is used to smooth the oscillator.
I added two more lines to allow monitoring of extreme high angle values.
This is a very simple indicator. I hope this approach will help you in your analysis of exchange rates and I welcome any ideas based on this oscillator.
It is based on the ROC indicator (RATE OF CHANGE).
The ROC indicator is a measure of the rate of change in the exchange rate, as its name implies.
From which the angle of the slope of the change can be calculated. This angle is displayed on an oscillator.
The value of the oscillator can thus take max 90 and min -90 degrees as a result of the angle function calculation. Thus, the slope of the exchange rate can be continuously monitored on the indicator.
The length parameter is used to control how many candles should be included in the calculation, as is usually the case for all indicators, and a simple moving average is used to smooth the oscillator.
I added two more lines to allow monitoring of extreme high angle values.
This is a very simple indicator. I hope this approach will help you in your analysis of exchange rates and I welcome any ideas based on this oscillator.