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Slope of an indicator, frustrating =/
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Slope of an indicator, frustrating =/

  #21 (permalink)
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Yes but . . .

FatTails is right, unless you calculate slope the way they do at Stockcharts.com Their slope is based on a liner regression channel, it is not based on scale and it does not change if you change the chart dimensions. I find it is a very useful indicator. Details can be found here:
Slope - ChartSchool - StockCharts.com

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  #22 (permalink)
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Slope/Angle WIKI

Sorry,

Saw Slope and wanted to point to the Wiki:
Concept of Slope/Angle in indicators - Big Mike's Trading Forum

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  #23 (permalink)
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cme4pif View Post
FatTails is right, unless you calculate slope the way they do at Stockcharts.com Their slope is based on a liner regression channel, it is not based on scale and it does not change if you change the chart dimensions. I find it is a very useful indicator. Details can be found here:
Slope - ChartSchool - StockCharts.com

Slope is just a visualization of momentum. With scalable software it is important to measure momentum or slope in a way that it is independant from the vertical or hoizontal chart compression.

n-period Momentum = Price change over n bars (close-to close)
rise-over-run = Price change over n bars divided by the number of bars (Momentum divided by the number of bars)
slope (according to chart school): Momentum is replaced by the linear regression line over n bars

Example: The chart attached shows the Momentum over 10 bars. the momentum oscillates between +3 and - 3 points. If you divide that by 10 - the number of bars - you get what Stock Charts calls rice over run. It is the same indicator, but now oscillating between + 0.3 and - 0.3. The LinRegSlope also oscillates between +0.3 and -0.3, but is a bit smoother, which is of course is the result of the regression (that is what regression lines are good for).

So you can simply use the LinRegSlope, which is identical with the slope suggested by ChartSchool. It is a NinjaTrader default indicator.


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  #24 (permalink)
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Actually, it is possible to do the slope calculation the way you want. You just need to convert to actual distances in inches and take the ratio. The distances can be obtained from the screen resolution via a Graphics object.

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Zeos6 View Post
Actually, it is possible to do the slope calculation the way you want. You just need to convert to actual distances in inches and take the ratio. The distances can be obtained from the screen resolution via a Graphics object.

You have missed the point.

A dynamically scaling chart determines its maximum height by the range of price shown within the region of the window. Measuring slope in this way is pointless, because it will change bar by bar.

See here:
https://futures.io/platforms-tools-indicators/18586-concept-slope-angle-indicators.html

This has been discussed at great length a hundred times.

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  #26 (permalink)
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Zeos6 View Post
Actually, it is possible to do the slope calculation the way you want. You just need to convert to actual distances in inches and take the ratio. The distances can be obtained from the screen resolution via a Graphics object.

@Zeos6: That is a fallacy. May I cite the mathematician and great trader William Eckhardt from a paper which he had written as a response to the publication of an inconsistent indicator, the "Polarized Fractal Efficiency".

"RIGHT ANGLE INCLINATIONS
The fallacy concerning the sizes of angles in a bar chart or price graph arises from ignoring price/time heterogeneity. As an example, consider the claim that a major downtrend and the subsequent uptrend tend to be at right angles to each other. In Figure 1, the first chart conforms to the right-angle rule; in Figure 2, the uptrend falls short of the right-angle projection; in Figure 3, the uptrend exceeds the projection. The problem: These are all charts of the same price series (December 1989 gold, July 17, 1989, to December 1, 1989), but only the vertical price scale is different. This technique is likely to give the user varying results depending on the chart service he or she uses.

RELATIVE INCLINATION
Relative inclination fares no better. Here, the rule is that in the first two legs of a bull move, the angular inclination above the horizontal axis of the second leg is twice that of the first leg. Initially, this may appear to be a coherent prediction of the behavior of the second leg given that of the first, but what if the first leg climbs at more than 45 degrees? The rule predicts that the second leg will incline at more than 90 degrees — that is, it has to backtrack in time. And whatever the angular inclination of the first leg on the original chart, there exists a rescaling of the price axis in which this first leg climbs at more than 45 degrees. Thus, this rule is incoherent. It cannot stand up to the c-test.

Note that these geometric angle lines should not be confused with classical chart trendlines, which are defined as incidence properties — connecting points on a chart — and not in terms of angles. In Figures 1, 2 and 3, the downtrend line crosses the price series at the same price and on the same day.

A price chart is an attempt to model relevant aspects of price change. Price change is not linear displacement, whether vertical, horizontal or oblique. Nonetheless, price change can be represented as vertical displacement and time elapsed as horizontal displacement. Such a model, however, invariably supports relationships that does not correspond to anything in the original process.

The angular inclination of a trend on a price chart is a visually striking feature of this representation. Such angles have no intrinsic meaning for the price series, but this is one of the many factors (along with our facility for pattern recognition and wishful thinking) that contributes to our interpreting more from price charts than rigorous testing reveals is there."


This was written prior to the advent of PCs. For more information please read the article "The C-Test" by William Eckhardt published by "Stocks & Commodities", which can be downloaded from the archive of www.traders.com.

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Slope of an indicator, frustrating =/-figure-1.png   Slope of an indicator, frustrating =/-figure-2.png   Slope of an indicator, frustrating =/-figure-3.png  
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  #27 (permalink)
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I was not commenting on whether or not the use of angles as an indicator in a chart is valid. I was merely stating that a valid slope can be calculated, even if a chart is dynamic. Whether that is useful or not is debatable,and I do not wish to get into that debate.

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  #28 (permalink)
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MASlopeBoxMulti

Actually, using the "WDS" type on MASlopeBoxMulti avoids using the Y axis and can be helpful in short term situations on a single chart.

Back to the original question, does anyone know how to save the "degrees" info for comparison to prior bars?

Thanks.

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  #29 (permalink)
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I am not sure what you are asking here. You can always save the info in a variable, in the Variables section of the code but I don't think tis is what you are after. Please clarify what it is you are after.

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@Zeos6, totally off-topic but couldn't help myself when I saw your name. Instantly reminded me of the good ol Zeos computers... a name I had not heard in a very long time.



Mike

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