LRSlope - Linear Regression Slope

10 thg 9

This indicator attempts to predict the direction of the trend using least squares moving averages (LSMA).

The indicator's core purpose is to determine whether the price trajectory has a positive or negative slope and calculate directional changes. It also measures the strength of price momentum by calculating how strongly the slope.

The indicator calculates the slope of the curve for each bar and the EMA of these slopes for the specified period (Curve Length). It is consists of a histogram and two lines named "Average Slope"(white line) and "Simple" (green line).

The "Average Slope" is the simple moving average of the calculated EMA values.
" Simple " is SMA of calculated slopes.

The color of the histogram changes depending on the relative position of these two lines and zero line.

Simply put, the green bars of the histogram indicate an uptrend, blue bars indicate a horizontal or reverse movement, and red bars indicate a downtrend.

It is possible to see the strength of the momentum by the amount of change in the " Simple" (green line).

23 thg 9

Phát hành các Ghi chú

I added option to choose source. So user can try OHLC combinations.

23 thg 9

Phát hành các Ghi chú

Change of names in script.