|PDF Title||:||Candlestick Charting Explained Workbook|
|Author||:||Gregory L. Morris|
|Total Page||:||179 Pages|
|PDF Size||:||5.71 MB|
|PDF Link||:||Read and Download|
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“Rate of change is a fairly simple concept that is used by many analysts. It is calculated by computing the difference between the closing price today and the closing price n periods ago. For example, if the value of the rate-of-change indicator were 7.5 percent, you could deduce that the price on that day was 7.5 percent greater than the price n days ago.
In the following example, n will be set to a period of 10 days. The trading signals for this indicator cannot be given by thresholds because the up and down values are theoretically unlimited. Therefore, the trading signals are generated by the crossing of the indicator with its own 10-period smoothing.
Ten periods for the smoothing value is used for most indicators that work this way. Better values may exist for certain stocks or commodities, but 10 seems to be consistently good. Rate of change also has a center point or zero line that is used to show periods of positive or negative price momentum.
Readings above zero are positive, which in our case means that the price is greater than it was 10 days ago, whereas readings below zero mean that price is lower than it was 10 days ago.
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