ROC Between Symbols

This script is a simple Rate Of Change (ROC) closing price comparison between a "compare" symbol and a "base" symbol over a user-specified period (maximum 200).

When the ROC is greater than zero, >0 (positive), the compare symbol is increasing faster than the base symbol -- the compare symbol has positive comparative momentum. Of course, your compare symbol could be flat and your base symbol could be decreasing, but math-wise these scenarios are equivalent and the compare symbol has positive comparative momentum.

When the ROC is less than zero, <0 (negative), the compare symbol has negative comparative momentum. Again, the base symbol could be increasing and the compare symbol could be flat, but math-wise this is the same scenario and the compare symbol has negative comparative momentum.

This ROC comparison tactic was documented and described on YouTube channel "Figuring Out Money" in an interesting study between Bitcoin and Gold prices on a weekly timeframe.

Notas de prensa:

This update adjusts the Input screen to clarify which symbol is the "Compare" symbol and which symbol is the "Base" symbol. The underlying calculation is Compare / Base, so I thought this extra clarification would be helpful -- now, it's easier to see which symbol will be the numerator (the "Compare" symbol) and which will be the denominator (the "Base") symbol.