Theory :
- Ocean series of indicators were originally created by Jim Sloman (the theory) and Pat Raffalovich (the coder) - additional information can be obtained in Jim Sloman's book
- Natural market slope is an indicator that combines :
- Natural market slope period linear regression slopes (weighted by appropriate coefficients) into a single "market slope"
- Prices can be additionally pre-smoothed vi TEMA (triple ema)
- Even though usually adding pre-smoothing adds lag, using TEMA in this case works very well (default values are using almost insignificant lag)
- As any usual slope / momentum indicator
- You can use the color change of the indicator as an indication of momentum change
- You can use the zero cross of the indicator as an indication of "trend" change
