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"ROC" vs "ROC Signal"

AbueloAbuelo ✭
in Scanning
While I know what the indicator "ROC" is and how to use it .... on the Advanced SCAN list of indicators it shows a "ROC Signal" with default setting of "ROC Signal(12,30)" .... what exactly is this indicator and how do I use it? .... Thanks.

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    markdmarkd mod
    Answer ✓
    ROC Signal doesn't seem to be documented in Chart School.

    But a Signal line is usually an EMA or SMA of an indicator. For some indicators you would trade the crossovers in the direction that the indicator is moving. But that doesn't seem to work out very well with these parameters. Another use is to establish a bias - if the indicator is above its rising signal line, the bias is bullish; if below its falling Signal line the bias is bearish. Sometimes you can trade the crossovers in reverse - if the indicator approaching, touching or crossing a falling Signal line that has not lost any momentum it could be a good short; vice versa for convergence with a rising Signal line.
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    AbueloAbuelo ✭
    Answer ✓
    Thanks markd ....
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