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I created a universal indicator that will alter the color based on slope change of "ANY" distinct, single-value dataseries in any panel.
To use this, you need to learn how to define the input series for the indicator (all done via the NT8 UI).
You …
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
Thank you David.Im looking for actual slope in degrees of the moving averages.Often times, when price is rotating ,it can give off false trend signals.With the slope reading, I can for example, filter trades , so that ithe mov averages have a slope of 65% ,or below, it wouldn't be considered a trend yet.Anything above 65%, I start looking for pullbacks with the trend.
I think after much looking you will find that slope is not a good measure.
The slope of a line and ma changes if you expand or contract the chart.
The charts are not fixed scale so slope (IMO) is mostly not accurate.
Your approach will not work. The problem here is that the angle that you have to use will depend on the chart type select and on the instrument selected. So you have to find out the appropriate angle for each instrument and timeframe. With this restriction …
I think Fat Tails has come the closest to creating something that shows slope.
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
Trading: 6C (Low Margin,) 6E, CL, GC, ES and Maybe DX for smaller tick value
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@bobarian, @DavidHP is correct that Fat Tails has decided slope is not a good method for trading. But in an earlier post he did provide an NT7 indicator that might suffice for your needs. PLEASE note that DAvidHP's referred post is from much later than the one below so do not think this refutes David's info:
Perry uses an MA Slope Multi indicator which was designed by Erez. This indicator can color the MA 's depending on the slope and there is a numeric indication of the slope angle.
For further details, refer to https://nexusfi.com/articles/trading/Perrys-Method-Part-II
Version 1.6 November 25, 2017
The Multiple Keltner Channels are a generalized version of the Keltner Channels.
Standard Keltner channels are built from a simple moving average (SMA) and two channels lines above and below. The two lines above and …
You may select the WMA or anyone of the other 32 moving averages as the channel midline. In case that you only wish to display the WMA, but not the channel lines, you may switch the channel lines off under display options.
The indicator uses the slope of the midline for coloring the plots and the channel. There are three states
There is a sensitivity parameter "neutral threshold" which allows for adjusting the range of slopes that are considered as flat. When you set this parameter to 0, all slopes will be qualified as upsloping or downsloping. When you set the parameter to 100, a comparitively large range of slopes will still be considered as flat.
The slope of the WMA can also be shown via the paint bars.
The first chart shows a Keltner Channel which is colored according to the slope of the WMA. The neutral threshold is set to 0. Therefore there are no slopes being considered as flat.
The second chart has the channel and channel shading deactivated under the display options. It shows the WMA colored according to slope. The range of flat slopes has been defined by setting the neutral threshold to 50. The slope can also be shows via the paint bars.
Thank you Harry.Im trying to import this indicator into NT*, and im getting this error message.I just downloaded it, so im not sure what the problem is
