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Slope study idea:
32 bar data study - so data is significant statistically
Price study
Regular study - indicator -
1. line study that can go on top of price data or
2. Indicator study underneath price window
The idea is to use data slope to reflect the 2 basic data conditions - trend or non-trending.
Description:
If slope of this data is greater than 13%, than generate a line and color the line green, or green section in indicator window.
If slope of the data is between 13% up and 13% down - black line or black section of indicator window.
If slope of data is greater than 13% down, then red line or red section in indicator window.
Basically the idea is to generate a straight line (or a color in the indicator window) that represents a moving linear regression line that adjusts to the slope of the data and generates a colored line or indicator study reflecting the slope of that data.
I am sure this idea is similar to something else such as a Time Series Moving Average but I searched the data base and did not find something simply reflecting the slope of data and just plots slope of data as a simple color coded indicator.
Thank you,
Harndog
32 bar data study - so data is significant statistically
Price study
Regular study - indicator -
1. line study that can go on top of price data or
2. Indicator study underneath price window
The idea is to use data slope to reflect the 2 basic data conditions - trend or non-trending.
Description:
If slope of this data is greater than 13%, than generate a line and color the line green, or green section in indicator window.
If slope of the data is between 13% up and 13% down - black line or black section of indicator window.
If slope of data is greater than 13% down, then red line or red section in indicator window.
Basically the idea is to generate a straight line (or a color in the indicator window) that represents a moving linear regression line that adjusts to the slope of the data and generates a colored line or indicator study reflecting the slope of that data.
I am sure this idea is similar to something else such as a Time Series Moving Average but I searched the data base and did not find something simply reflecting the slope of data and just plots slope of data as a simple color coded indicator.
Thank you,
Harndog