The smoothed S-RoC indicator of the relative price increment by Fred Shutsman.
The indicator is calculated using the next formula:
S-ROC= (EMA [bar] – EMA[bar - Roc]) / EMA[bar - Roc]
where
- EMA [bar] is the EMA value on the current bar;
- EMA[bar - Roc] is the value of the same EMA in the past at a distance of Roc period from the current bar.
The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The detailed description of the classes is available in the article Averaging Price Series for Intermediate Calculations Without Using Additional Buffers.
Fig.1. The ColorSRoC indicator
