Volume Rate of Chg

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The Volume Rate of Change indicator calculates the percentage difference between the latest bar's volume and the volume of a bar in the past (default is 14 bars ago). Then the difference is plotted as a histogram. The plot fluctuates above and below a zero line. The Volume Rate of Change can show the strength or weakness of a price trend. Positive values are plotted above the zero line, and negative below. A positive value suggests there is enough market support to continue to drive price activity in the direction of the current trend. A negative value suggests there is a lack of support and prices may begin to become stagnant or reverse.

Default Inputs

Length (14) sets the number of previous bars for calculation.
ColorNormLength (14) sets the number of bars over which to normalize the indicator for gradient coloring.
UpColor (Cyan) sets the color to use for indicator values that are relatively high over ColorNormLength bars. Set to -1 to disable gradient color plotting.
DnColor (Magenta) sets the color to use for indicator values that are relatively low over ColorNormLength bars. Set to -1 to disable gradient color plotting.
GridForegroundColor (Black) sets the color for numbers in the Scanner cells when both UpColor and DnColor are set to positive values.

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