Indicator Request:
Could some clever guy maybe develop this indicator?
With some extras?
http://img233.imageshack.us/my.php?image=chartly1.jpg
I've found it on my VTTrader. It's called Rate of Change (ROC)
The Formular is simply you can get the Output in Pips or in Percentage.
Here's a screenshot with both plotted on EUR/USD and USD/CHF.
You can easily spot that there is a 2 Pip Divergence between those two.
Now comes the tricky part. USD/CHF could move 10 pips up leaving EUR/USD behind. You'd notice it if you compare these two indicators but since only Close Data is recorded to the graph alot of information is lost. Wouldn't it be interresting to have a candlestick chart as an indicator of the actual spread within the timeperiod?
Timeframe begins -> Price discorralates marking a High on our Candlestick Price Spread Indicator. And so on.
Could some clever guy maybe develop this indicator?
With some extras?
http://img233.imageshack.us/my.php?image=chartly1.jpg
I've found it on my VTTrader. It's called Rate of Change (ROC)
The Formular is simply you can get the Output in Pips or in Percentage.
Here's a screenshot with both plotted on EUR/USD and USD/CHF.
You can easily spot that there is a 2 Pip Divergence between those two.
Now comes the tricky part. USD/CHF could move 10 pips up leaving EUR/USD behind. You'd notice it if you compare these two indicators but since only Close Data is recorded to the graph alot of information is lost. Wouldn't it be interresting to have a candlestick chart as an indicator of the actual spread within the timeperiod?
Timeframe begins -> Price discorralates marking a High on our Candlestick Price Spread Indicator. And so on.
QuoteDislikedTo calculate the ROC in Points:
ROCPoints = Today's Price - Price n-Periods Ago
To calculate the ROC as a Percentage:
ROCPercentage = ((Today's Price - Price n-Periods Ago) / Price n-Periods Ago) * 100