EFS for Trading Success
EFS Featured Studies of the Month: Price Rate-of-Change and Outside Bar
The EFS library is full of new and useful strategies you can use for free in eSignal.
This month, we feature a strategy that measures the price rate of change and another that highlights outside bars.
Price Rate-of-Change (ROC)
This study calculates the rate of change of the current chosen price as compared to the first price of data. This indicator is a modification of the classic Rate-of-Change indicator. The Price Rate-of-Change (ROC) indicator (percent method) is calculated by dividing the price change over the last x periods by the closing price of the security x periods ago. The result is the percentage that the security's price has changed in the last x periods.
If the security's price is higher today than x periods ago, the ROC will be a positive number. If the security's price is lower today than x periods ago, the ROC will be a negative number.
Download the Price Rate-of-Change study
Outside Bar
This study highlights outside bars where the close of the bar is also in the top or bottom 20 percent of the current bar's range. If Enable Alerts is set to True, a popup and audible alert will be generated at the completion of the outside bar.
Resources for EFS
- To access other EFS studies, visit the EFS Library (wait a few seconds for the Most Popular Articles listing to appear).
- For detailed tutorials on EFS, including how to implement EFS studies within eSignal, visit the Help Guides and Tutorials section of the EFS KnowledgeBase.
