RedeeCash Rate of Change

Rate of Change

Base on the formula,

ROC = (Close[n] - Close[n-lookback]) / Close[n-lookback] * 100

to plot the rate of change of a currency pair price action over a lookback period, and provides two global variables, SYMBOL_ROC and SYMBOL_ROC_LOOKBACK, which represent the latest Rate of Change value and the Rate of Change at the previous lookback period.

Invoking the indicator using the iCustom function,

iCustom("Market/RedeeCash_Rate_of_Change.ex4",Symbol(),5 ,0,0);

and then retrieving the global variables,

double roc = GlobalVariableGet(StringConcatenate(Symbol(),"_ROC"));
double roc_lookback = GlobalVariableGet(StringConcatenate(Synbol(),"_ROC_LOOKBACK"));

and performing the test to verify a trend,

if (roc > roc_lookback && roc > 0) trend="UP";
if (roc < roc_lookback && roc < 0) trend="DOWN";