We present you the "TrendAngle" indicator, designed for developing Expert Advisors of for manual trading.
Often it is necessary to promptly determine the inclination angle and the trend of the price movement direction. As a rule, the angle of the price is greater during sharp rises or declines, and smaller during flats. Traders frequently have difficulties with determining a sideways movement of the price. For this purpose, the numerical value of the inclination angle is displayed on the screen, which does not depend on the scale of the chart.
This indicator has been developed for these purposes. It calculates the inclination angle and displays the trend line of the quotes movement. The numerical value of the inclination angle is displayed on the screen. As well as the current price value of the currency pair the indicator is attached to. When the price rises, the inclination angle will have a positive value, when it falls - negative.
The indicator is designed to work on any currency pair and any time frames.
The indicator settings:
- Spread– parameter for setting the deviation of the price from the trend line (for example, for EURUSD it is 0.0035, which corresponds to 35 points of 4-digit quotes). This parameter allows to eliminate noise and excessive volatility, which is of no interest to the trader.
This is the first version of the indicator. All suggestions and responses will be considered. Feel free to write comments.