ROC 20x Dingue v5
This is the updated v5 for PineScript 5.
20x Rate of Change indicators into 1 indicator.
Plus a built-in moving average for the 20xROC can be plotted with its own MA, which simplifies the visual rendering.
Auto settings can be used, which have automatic preset lengths based on the timeframe used.
Middle line 0 is important as it is a positive and negative threshold for the ROC.
Divergences are added but they do not work so well unless bigger time frames are used or longer ROC's length.
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In closing, no indicator can give perfect signals, you need to use them in conjunction with other information to make better decisions.
I hope you like my indicators and that they help your trading.
If you have any questions please ask.
Thank you.
20x Rate of Change indicators into 1 indicator.
Plus a built-in moving average for the 20xROC can be plotted with its own MA, which simplifies the visual rendering.
Auto settings can be used, which have automatic preset lengths based on the timeframe used.
Middle line 0 is important as it is a positive and negative threshold for the ROC.
Divergences are added but they do not work so well unless bigger time frames are used or longer ROC's length.
---------------------
In closing, no indicator can give perfect signals, you need to use them in conjunction with other information to make better decisions.
I hope you like my indicators and that they help your trading.
If you have any questions please ask.
Thank you.
Compounding is the 8th wonder of the world. Compound your knowledge, and everything else will follow.