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Indicators

Ocean theory - natural market slope - indicator for MetaTrader 5

Mladen Rakic
Views:
18417
Rating:
(38)
Published:
2020.07.26 17:20
ocn - nms.mq5 (10.01 KB) view
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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















Identify potential Trends/Range (Pivot Points) + Entry points Identify potential Trends/Range (Pivot Points) + Entry points

The story behind this indicator is really interesting. I've published last week a script called "Identify potential Trends/Range (Pivot Points)" and a huge number of MQL5(ers) contacted me to ask if it is possible to have it as an indicator. So I was glad that lot of people actually like my scripts and indicators so that is why I've decided to convert the script to this indicator.

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Random walk index (optimized version)

Design patterns - Factory Method Design patterns - Factory Method

An interface for creating an object that defers instantiation to subclasses. They decide which class to instantiate.

Design patterns - Prototype (creational) Design patterns - Prototype (creational)

Create objects by copying a prototype