I use esignal for my charting. What I am looking for is trying to find the slope of an indicator and have that displayed as an indicator. I know nothing about programming and usually find indicators that suit what I am looking for.
Slope of a moving average indicator
- Thread starter bigbrent701
- Start date
I find that indicator tests well. I call it moving average slope. It's momentum of a moving average. You might experiment with different moving average time constants and momentum intervals, say compare the values of the moving average now with the value 10 intervals earlier.
Its something that I have followed for years but something my eye doesnt always pick out when it should. I dont know how to write the efs script for it unfortunately. I use a 8/20 ema system with a longer term EMA as a trend filter.
Have done some searching. No luck so far, if anyone happens to have an EFS file that does this feature please share.
When I was trading Woodie's CCI System I got the code off of th web and translated it into QuoteTracker to measure the slope of two moving averages (an Exponential Moving Average and a Least Square Moving Average), it's simple enough to also apply the formula to a Simple Moving Average, as well as make minor customizations to how it measures the slope.
Here's the formula:
if ema(34)/ema(34)[1] > 1 and lsma(25)/lsma(25)[1] > 1set color to $80FFFF else set color to Red
*
if ema(34)/ema(34)[1] < 1 and lsma(25)/lsma(25)[1] < 1 set color to $80FFFF else set color to Red
*
if ema(34)/ema(34)[1] > 1.00005 and lsma(25)/lsma(25)[1] > 1.00005 set color to $9AF89C
*
if ema(34)/ema(34)[1] < 0.99995 and lsma(25)/lsma(25)[1] < 0.99995 set color to $9AF89C
*
if ema(34)/ema(34)[1] > 1.0001 and lsma(25)/lsma(25)[1] > 1.0001 set color to $00D21B
*
if ema(34)/ema(34)[1] < 0.9999 and lsma(25)/lsma(25)[1] < 0.9999 set color to $00D21B
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Note, I stopped using these types of tools a long time ago, it's all about the price action.
Hope it helps.
Good trading,
JJ
