Category: Indicator > Miscellaneous
The Pcnt Chng 1 Data-Cum indicator calculates and plots the cumulative net change, expressed as a percent, between each bar’s Close and the previous bar’s Close for Data1 in a chart. Moving from left to right across the chart, the indicator calculates the percent change of each bar’s close as compared to the bar before it. This is then added to the running total of these percent changes and the running total is plotted on the chart.
Because Pcnt Chng 1 Data-Cum begins accumulating values from the left of the chart, the numeric value of Pcnt Chng 1 Data-Cum will depend on the data available in the chart. Therefore, the relative value, or trend direction, of Pcnt Chng 1 Data-Cum is more important than its numeric value. Accumulating the percent changes sheds light on the pace of a trend and possible trend reversals. It may also be useful in identifying overbought and oversold conditions when the Cumulative Percent Change becomes extremely strong or weak.
IF CLOSE <> 0 THEN
PLOT1(PLOT1 + CLOSE / CLOSE - 1, "PCNTCHNG1");