THe indicator is backtested for the default periods -10 (short), 21(medium) and 45(long). These parameters can be changed using the settings as per your preference. The indicator allows you to plot three ROC on multiple periods.
Why use this indicator? A trend is confirmed when its identified as a trend across multiple timeframes or multiple periods. As all default ROC (10, 21, 45) cross above zero, it marks the beginning of an uptrend. The indicator is backtested on daily timeframe. Combine your existing bullish strategies with this indicator shall yield improved accuracy as you'd have trend confirmation. Go long only when the ROC is above 0 levels across short, medium and long term periods.
The indicator is inspired by teachings from Mr. Bharat Jhunjhunwala (Founder of ProRSI)
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Added optional usage for Weekly timeframe. You can enable for Weekly timeframe using Setting menu and Save as default to save settings.
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Typo correction in Medium and Long term ROC labels