Market / MetaTrader 4 / Indicators /

The Slope

FREE

Published: 20 May 2019

Current version: 1.2

The Slope

Indicators
Naim El Hajj
Naim El Hajj
Lebanon

5115
3.7 (18)
- https://nelhajj.com
3 products 7 topics 7 comments
Version: 1.2
Updated: 20 July 2020

Overview

The Slope is a simple MT4 indicator that calculates the slope of recent price movement and displays it as a histogram below the chart.

It is designed to help traders read whether recent price movement is positive, negative, or relatively flat. The indicator can be used as a visual momentum and direction filter alongside the trader's own chart analysis.

Key Features

Calculates the slope of recent price movement.
Displays positive and negative slope values as a histogram.
Allows the calculation period to be adjusted.
Can show alerts when the slope changes direction.
Can draw arrows after a slope direction change.

Settings

CalculationPeriod: The number of bars used to calculate the slope.

GetAlerts: Enables or disables terminal alerts when slope direction changes.

PushNotifications: Enables or disables mobile push notifications when slope direction changes.

DrawArrows: Enables or disables chart arrows after a confirmed slope direction change.

Important

This indicator is a decision-support tool. It does not predict future price movement and does not guarantee trading results. Use it together with your own analysis, execution rules, and risk management.

more...

9083

sunnychow 2019.05.24 19:50 #

thanks for share

823

Martin Brown 2019.11.07 18:41 #

Very good tool. If you tweak the inputs, can give you one of the very first indications that market is changing directions.

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Filter:

amir6113 2022.02.09 00:03 #

very good

131

forexva 2021.04.02 22:20 #

One of a set of lagging indicators!

2945

cvdestyfx 2020.07.20 00:31 #

Useful indicator. But be careful! Just because you get an arrow it doesn't mean you should place a trade. Other things should be considered before placing a trade, such as the direction of the trend from a higher timeframe. Publisher is responsive to questions/issues.

823

Martin Brown 2019.11.07 18:41 #

Very good tool. If you tweak the inputs, can give you one of the very first indications that market is changing directions.

3431

rainwalker123 2019.09.30 05:21 #

User didn't leave any comment to the rating

9083

sunnychow 2019.05.24 19:50 #

thanks for share

The Slope

Naim El Hajj

Overview

Key Features

Settings

Important