ColorSRoC - indicator for MetaTrader 5

The smoothed S-RoC indicator of the relative price increment by Fred Shutsman.

The indicator is calculated using the next formula:

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