This indicator is described in the book by Alexander Elder "How to play and win at the stock exchange. First, compute the exponential moving average of closing prices (EMA), then determined the rate of change (RoC).
Input parameters:
MA_Period - period EMA, the default 13;
ROC_Period - the rate of change, the default is 21.
Although the author recommended the use of options 13/21 (for medium-and long-term trading in the stock market), yet it is desirable to demonstrate how to optimize for the short-term periods.
Simple (unsmoothed) ROC:
If you want to use this indicator as a simple (unsmoothed) RoC, simply install MA_Period equal to 1.
Trading Strategy:
* If the indicator is below the zero line, is set up from the trough - buy.
* If the indicator, while above the zero line, turns down from the peak - to sell.
* Divergence (divergence) between the values of the oscillator and the price gives a particularly significant sign, play in the direction of the indicator.
Download
S-RoC.mq4
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