ROC works quite well in terms of identifying trend continuation patterns in directional price action movements. The longer the timeframe and period the clearer signal is generated.
See the visual descriptions in the screenshots below
User shall use the indicator at its own discretion however it is not recommended picking tops and bottoms using this indicator as Maximum Adverse Excursion may be quite significant on longer time frames. Preferably this indicator to be used for trend continuation setups.
The indicator can be used for manual position entry as well as it is possible to include it in automated trading bots development.
Installation guide
In order to start using the indicator please follow the steps below:
1. Copy <indicator_name>.algo file to location where all other indicators are stored on your local machine (normally C:\Users\<user_Name>\Documents\cAlgo\Sources\Indicators).
2. Once than is done, indicator will be available to select from Custom Indicators menu, see the screenshot below
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