The big problem with angles is that they depend on both the horizontal and vertical scale of the chart. As both price and indicator panels of the charts use Autoscale for the y-axis, you will get different angles for the same price action depending on the volatility 50 bars ago. I never understood, how anybody could use angles. This is non-sense, unless you swear to never compress or expand neither the x-scale nor the y-scale and never change instruments.
A better concept than angles would be momentum. The chart below shows a momentum with periods 3 (green) and 6 (red) applied to the MACD. Applying an indicator to an indicator is only possible with NT7.
Last edited by Fat Tails; June 9th, 2010 at 05:43 AM.
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Here is some code I used before to do this. I just tore it from a indicator, I do not use Ninja anymore for charting so you'll need to make appropriate changes as the code is not plug-n-play. I removed some of the fancier part of the code because it is from an Elite indicator and this is a non-Elite section.
It shows the angle of the line in degrees.
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