The RocnRoll indicator is a technical analysis tool used in the ProBuilder language to generate trading signals based on the rate of change (ROC) and exponential moving averages. This indicator helps in identifying bullish and bearish market trends and provides signals for market entry and exit.

Syntax:

RocnRoll(price)

Where price refers to the price data used for calculating the RocnRoll indicator.

Example:

// Applying RocnRoll to the closing price of a stock
myRocnRoll = RocnRoll(close)

This example demonstrates how to apply the RocnRoll indicator to the closing price of a stock. The result, myRocnRoll, can then be used to make trading decisions based on the values it returns.

Interpretation:

• If RocnRoll returns a value of 1, it indicates a bullish signal. This is typically represented by a green histogram.
• If RocnRoll returns a value of 2, it indicates a bearish signal. This is typically represented by a red histogram.
• If RocnRoll returns a value of -1, it suggests an exit signal from the market. This is typically represented by a blue histogram.

The RocnRoll indicator is useful for traders who rely on technical analysis to make informed decisions about market entries and exits. By understanding the signals provided by RocnRoll, traders can potentially enhance their trading strategies.