Rate Of Change - Absolute Value
Measures the period's change in terms of the instrument's value (e.g. pip, dollar, etc) instead of as a percentage. I generally use it on a daily time frame with a period=1 to see how the current day's move compares with prior days' moves in order to gain a perspective into how this move ranks historically.
study(title="Rate Of Change", shorttitle="ROC") source = close, length = input(9, minval=1) roc = (source - source[length]) plot(roc, color=blue, title="ROC") hline(0, title="Zero Line")