The Rate-of-Change (percent) is a momentum oscillator that measures the percent change in price from one period to the next. A 10 period rate of change would be calculated as follows:

ROC = 100*(Close-Close 10 periods ago)/(Close 10 periods ago)

The plot forms an oscillator that fluctuates above and below the zero line as the rate-of-change moves from positive to negative. The oscillator can be used as any other momentum oscillator by looking for higher lows, lower highs, positive and negative divergences, and crosses above and below zero for signals.