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Smitty Moving Average Slope Monitor
This indicator monitors the slope of 5 Moving Averages and plots colored lines across the bottom of the chart panel. It also optionally plots a trend signal and arrow on the chart when all 5 moving average slopes are all moving in the same direction.
I originally built this as a companion indicator to the Zombie5EMA indicator, which is shown in the screenshot as well. However, my indicator also allows you to choose between a selection of different Moving Average types, so keep that in mind when you adjust the settings.
The Slope Lengths determine the number of bars used to look back and calculate the slope of each Moving Average with. The background trend colors change when all 5 slopes are pointing up (> 0), or point down (< 0).
One thing you can look for is that the 5 plots will start to create lots of noise as their colors change. This can indicate either a pullback, a trend change, or a ranging market. You may be able to filter out false signals with something else to indicate momentum?
Version 1.00
Category
The Elite Circle
Details:
Smitty Moving Average Slope Monitor
Category:
The Elite Circle
September 11th, 2021
Size: 20.81 KB
2428
torch2k
Comments/ratings
Ganymed
September 13th, 2021 03:43 AM
:-)
sukhsan
September 20th, 2021 07:12 AM
No Comment
topdogtony
September 24th, 2021 08:47 PM
Okay sound like an extra indicator tool that i can add to my chart to help with making a decision thanks.
4tison
October 6th, 2021 12:38 PM
Thx for the indi but it would not open in NT8. Perhaps, I do not have the proper program to open it in NT8. Any suggestion? Much thx.
[email protected]
RangerTrader
October 13th, 2021 06:23 PM
Nice indicator.
suchy37
November 3rd, 2021 09:50 PM
Love this indicator. Great work
JC195461
November 17th, 2021 09:27 AM
Hello,
Is this a time based chart?
TY,
Jeff
Ganymed
December 25th, 2021 04:17 AM
No Comment
Ganymed
December 25th, 2021 04:17 AM
No Comment
Buscador
December 29th, 2021 01:24 PM
Great help. Thanks
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All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
