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What is the second parameter in the ROC Signal(x,x) clause?
Here are 2 default clauses that come up in the advanced scan workbench:
and [ROC(12) > 0.0]
and [ROC Signal(12,30) > ROC(12)]
I figure the 30 in the second parameter must be the number of bars that ROC(12) is smoothed? Also, is this an SMA or EMA?
Is 30 the published smoothing period? The ChartSchool article does not mention this.
The more important question is why did I not know ROC has a signal line? I ask this because the ChartSchool article
does not talk about it. Well, at the very bottom of the article it is barely mentioned. I had to comb through the article to find it.
Here are the default clauses for TRIX:
and [TRIX(15,9) > 0.0]
and [TRIX Signal(15,9) < TRIX(15,9)]
What confused me at first is that TRIX, for example, has 2 parameters and so the TRIX Signal clause looks the same as the TRIX clause. For TRIX, the smoothing is 9, I figure, but can't remember for sure. Since ROC only has 1 parameter, the second parameter in the ROC Signal threw me off.
Now that I know that ROC can be checked for a signal line cross from scanning, maybe I should add a 30 period SMA or EMA to ROC on a ChartStyle. This sounds like an improvement for using ROC. I have seen the ROC Signal clause in the past, but overlooked it because I was not sure what it was.