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Can someone help with the development of an ema that changes color(to dark blue) when it is 45° angle or greater. This is an idea developed by Rob Hoffman. Hoffman believes that the*slope of an ema*must be at least 45 degrees to be able to give better direction.
Thank you
Abdus
Can you help answer these questions from other members on NexusFi?
There is an indie on the Ninja Trader Eco System called Colour The Plot, it will change value and color based on a Direcitonal Velocity you specify, so if you increase to a high enough value, say 3-5 + it will wit to show an incline rise of the line & change color when you reach a angle inbetween 180 and 90.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,388
Thanks Received: 10,207
Would really depend on how you define a 45° angle? On a chart an angle is a function of your x axis scale. The tighter the scale, the higher the angles, the wider the scale the flatter the angle. Probably should be looking at gradient or even change/momentum rather than angles.
If it is, the MA, higher value & set a velocity higher than 0 the MA line color will make change based on price imporvement, if 0 it will not change color. The angle is a way to calculate the direction of the line. Direction is the current price average of the past x bars value, does not calcualte an angle or current price based on a previous vector, it calcualtes the velocity at which the current price is, based on an amount of difference of past value. In this indicator I mentioned the color change is derrived through difference in current price and past price which is a result of momentum of change.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,388
Thanks Received: 10,207
I agree that an angle on a chart tells you the direction but that's all it tells you. Change/Momentum/Slope/Velocity etc all also show you the same thing, are easier to calculate, have more 'relative' information and don't change when you change the scale on your axis.
Same data... same Change/Momentum/Slope ... different axes... different angle!
