Download software Tutorial videos
Subscription & data-feed pricing Class schedule


New account application Trading resources
Margin rates Stock & option commissions

Attention: Discussion forums are read-only for extended maintenance until further notice.
Welcome Guest, please sign in to participate in a discussion. Search | Active Topics |

Rate of Change of INDICATOR not PRICE Rate this Topic:
Previous Topic · Next Topic Watch this topic · Print this topic ·
omrangassan
Posted : Friday, February 2, 2018 10:41:06 PM
Registered User
Joined: 9/6/2012
Posts: 17

REQUEST - Rate Of Change (ROC) for INDICATOR

 

Hi !

we know that Rate Of Change (ROC) is drawn based on price itself.

Here am looking to draw ROC based on an INDICATOR values (not price).

 

So ROC formula is:

ROC = ((CLOSE (i) - CLOSE (i - n)) / CLOSE (i - n)) * 100
 
where:
 
CLOSE (i) - closing price of the current bar;
CLOSE (i - n) - closing price n bars ago;
ROC - the value of Price Rate of Change indicator.
 
 
 
Now instead of using closing price in ROC calculation ; I want to use the values of an INDICATOR to do ROC.
 
The indicators I'm interested to get ROC for are (Bollinger Bands Width , ADX , ADXR , ChaikinVolatility)
 
So I'm looking to draw histogram (line) is seperate panel under price chart that draws ROC for INDICATOR (BB Width , ADX , ADXR , ChaikinVolatility).
 
I will have the OPTION to decide which INDICATOR to draw the ROC for (either ROC(BB width) or ROC(ADX) or ROC(ADXR) or ROC(ChaikinVolatility)).
 
 
Kindly ; How can I get PCF for my request ?
 
Thanx
Bruce_L
Posted : Saturday, February 3, 2018 8:50:24 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

I probably wouldn't do this as a Personal Criteria Formula. I would just change the Data Source of the Rate of Change Percent indicator.

How to Change the Data Source for an Indicator



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
omrangassan
Posted : Saturday, February 3, 2018 10:24:48 PM
Registered User
Joined: 9/6/2012
Posts: 17

Thanx Bruce

 

Yes thats what I did after I made the post.

 

here is another question:

How can I show the value of this ROC(BB Width) or ROC(ADX) in a table (scanner or watchlist) for many symbols / many timeframes ?

 

Thanx 

Bruce_L
Posted : Monday, February 5, 2018 9:41:48 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

You should be able to click on the ROC% indicator and select Copy to WatchList or Report | Add Column on order to create a WatchList Column based on the indicator.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
omrangassan
Posted : Tuesday, February 6, 2018 3:14:24 AM
Registered User
Joined: 9/6/2012
Posts: 17

Wow thats cool , Thanx Bruce.

 

ok , last 2 requests plz :

1- how can I highlight the candles on the chart based on certain criteria of the new indicator [ROC(BB width) or ROC(ADX)] like highlight the candles iff the %ROC(BB Width) is above 20 ? i.e. %ROC(BB Width) > 20 ?

 

2- How can I highlight the candle at the reversal point of the %ROC(BBWidth) ?

 

here are links for 2 screenshots to ex[lain what I want:

https://snag.gy/D6eHWZ.jpg

https://snag.gy/lMZX4a.jpg

 

Regards

 

 

Bruce_L
Posted : Tuesday, February 6, 2018 10:07:16 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

If you want to highlight something on the chart, you will need to us a formula. So for example, ROC%15 in simple Bollinger Bandwidth 20, 2.00 is above 20.

100 * ((2 * 2 * STDDEV20.0 / AVGC20.0) / (2 * 2 * STDDEV20.15 / AVGC20.15) - 1) > 20

Which simplifies down to the following.

STDDEV20 / AVGC20 > 1.2 * STDDEV20.15 / AVGC20.15

The reversal from going up to going down would be the following.

100 * ((2 * 2 * STDDEV20.0 / AVGC20.0) / (2 * 2 * STDDEV20.15 / AVGC20.15) - 1) < 100 * ((2 * 2 * STDDEV20.1 / AVGC20.1) / (2 * 2 * STDDEV20.16 / AVGC20.16) - 1) AND 100 * ((2 * 2 * STDDEV20.1 / AVGC20.1) / (2 * 2 * STDDEV20.16 / AVGC20.16) - 1) >= 100 * ((2 * 2 * STDDEV20.2 / AVGC20.2) / (2 * 2 * STDDEV20.17 / AVGC20.17) - 1)

Which simplifies down to the following.

TrueInRow(STDDEV20 / AVGC20 - STDDEV20.15 / AVGC20.15 < STDDEV20.1 / AVGC20.1 - STDDEV20.16 / AVGC20.16, 2) = 1

You can use the one of the formulas given above as the Boolean Formula in a Custom PCF % True Indicator to plot a spike on the chart when the formula is true.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
Users browsing this topic
Guest-1

Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.