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Elder Smoothed ROC

The Smoothed ROC indicator, developed by Fred Schutzman, is described in "Trading for a Living" book. It is created by calculating the rate of change for an exponential moving average of closing prices. When it changes direction, it helps identify and confirm trend changes.

Parameters

  • Smoothing_EMA_Length (13) – The length of the EMA used for smoothing;
  • ROC_Period (21) – The length of the rate of change calculation.
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