Welcome to the [TTI] NDR 63-Day QQQ-QQEW ROC% Spread script! This script is a powerful tool that calculates and visualizes the 63-day Rate of Change (ROC%) spread between the QQQ and QQEW tickers. This script is based on the research conducted by Ned Davis Research (NDR), a renowned name in the field of investment strategy.
⚙️Key Features: 👉Rate of Change Calculation: The script calculates the 63-day Rate of Change (ROC%) for both QQQ and QQEW tickers. The ROC% is a momentum oscillator that measures the percentage price change over a given time period. 👉Spread Calculation: The script calculates the spread between the ROC% of QQQ and QQEW. This spread can be used to identify potential trading opportunities. 👉Visual Representation: The script plots the spread on the chart, providing a visual representation of the ROC% spread. This can help traders to easily identify trends and patterns. 👉Warning Lines: The script includes warning lines at +600 and -600 levels. These lines can be used as potential thresholds for trading decisions. Usage:
To use this script, simply add it to your TradingView chart. The script will automatically calculate the ROC% for QQQ and QQEW and plot the spread on the chart. You can use this information to inform your trading decisions.
🚨Disclaimer: This script is provided for educational purposes only and is not intended as investment advice. Trading involves risk and is not suitable for all investors. Please consult with a financial advisor before making any investment decisions.
🎖️Credits: This script is based on the research conducted by Ned Davis Research (NDR). All credit for the underlying methodology and concept goes to NDR.