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 Rate of Change of INDICATOR not PRICE Rate this Topic:
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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.

-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
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