MA slope presents the slope of a Moving Average line. The indicator displays a colored Moving Average, the color of which depends on the point value of the MA slope between two key points of the Moving Average.
It has five input parameters:
- Period - calculation period
- Method - calculation method
- Applied price - price used for calculations
- Slope - the threshold slope value in points, after which the MA color changes
- Slope length - shift in bars of the first key point from the current bar, used to determine the slope value (difference between these points)
Calculation:
MA = MovingAverage(Applied price, Period, Method)
Diff = MA - PrevMA
PrevMA - MovingAverage(Applied price, Period, Method) Slope length bars ago
- If Diff is greater than Slope
The MA color is green - If Diff is less than -Slope
The MA color is red - Otherwise
MA is gray
