How to define degree of sloping?
MM
This slope thing keeps coming up - see this 'How to get the angle of a moving average?'
But really, we dont need to worry about it as we always know the (equivalent of the) tangent of that angle...
because we know the price change over n bars as a ratio
We can deduce a change in ratio or project a target price to be hit/broken on the same ratio...
Good Luck
-BB-
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Hi every body,
Can anyone please advise me what indicator(s) to use to spot a series of bars that are trending with very good slope, for example visually it displays a slope of over 45 degree in uptrend?
I have come up with the idea of using ema(3) + osma(12,26,9) + stoch(8). This identifies trending bars but fails to deal with degree of sloping. I have also tested other things like ADX or ATR, but it is either too complicated to be helpful or not helpful at all.
Thank you very much for your help.