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