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I am looking to determine the math and logic to program a indicator to calculate the Angle of the MACD fast line. Such as to get a value returned as 60% or 30%, etc. etc.
Any ideas or suggestions on how to do this? Some ideas were linear regression, and I've seen some other ideas posted other forums, but nothing really that does this, that I can find....
If anyone has any ideas, on how to do this, I would like to discuss them with you.
Can you help answer these questions from other members on NexusFi?
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.
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.