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Ocean theory - natural market slope - indicator for MetaTrader 5

Mladen Rakic

votes: 18
2020.07.26 17:20
ocn - nms.mq5 (10.01 KB)view

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)

Usage :
  • 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

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