DeMark Rate Of Change Indicator for ThinkorSwim

BenTen

BenTen

Administrative
Staff
VIP
This is a TD ROC indicator which is made by demark and enhances the normal ROC


thinkScript Code

Code:
# DeMark Rate Of Change
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/bLHzbb9M-Demark-Rate-Of-Change/

declare lower;

input source = close;
input length = 12;

def roc = 100 * source / source[length];
plot rate = roc;

plot os = 97.5;
plot ob = 102.5;

rate.AssignValueColor(color.white);
os.AssignValueColor(color.MAGENTA);
ob.AssignValueColor(color.CYAN);
 
markos

markos

Well-known member
VIP
@BenTen very nice. Demark is a bit "mysterious", in a good way. Check the web, Tom DeMark recommends different lengths for different instruments along with different chartings. Happy researching, it may be worth it!
 
horserider

horserider

Well-known member
VIP
The plot is the same as the ToS Rate of Change. It has just been put on a different scale. How is that mysterious? :unsure:
 
markos

markos

Well-known member
VIP
I guess that's the mystery... what did DeMark actually do? If it's not different, it's peculiar that he put it in his book, that's all I'm sayin'.
 
horserider

horserider

Well-known member
VIP
@markos Do not know. All I know is the actual plot is identical. Not read the book maybe it is explained there.
 

Top