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I'm attempting to measure the Angle of the Slope on a Linear Regression Slope study. I want to plot a label that measures the active bar and further improve it by adding another angle label that changes the angel value as I hover my pointer over the slope line.
There is a built function TLAngle in TS. It uses the arctangent of the slope where the slope is derived as rise (value change) over run (number of bars). But I'm not familiar with how to write the script. If someone here can help write the script, I will share a modified version of the Linear Regression Slope study which uses an exponential average...it gives very good signals!
Can you help answer these questions from other members on NexusFi?
Hi Charttrader - Yes, that's exactly what I'm hoping to measure. I think there's statistical significance in the slope crossing the zero line say at 70 degrees vs. 25 degrees. It's hard to judge the degree of the angle just by looking at the slope. This is would awesome to include in my slope study which I am more than happy to share with you.