OPEN-SOURCE SCRIPT

MA Slope [EMA Magic]

█ Overview:
The MA Slope calculates the slope based on a given moving average.
The Moving Average Slope indicator allows you to identify the direction and the strength of a trend.
It calculates the rate of change in percentage based on the user-defined moving average.

█ Calculation: This indicator calculates the slope based on the changes of moving average and normalizes it with Average True Range(ATR).
The default value of ATR is 7.I recommend not changing it unless you know exactly what are you doing.

█ Input Settings:
imagen
The settings are divided into three sections:
  • The first section is for time frame adjustments. Modify it separately from the chart, Allows you to use moving averages from different time frames.
  • In the second section, you can configure the base calculation,including Moving Average and Average True Range(ATR) settings.
  • In the third section, you can detect breakout and sudden change signals, which are highlighted in the background of the indicator.
    Note that When you change the breakout limit value, it also affects the band limit indicator on your chart.
    To avoid signal confusion, use only one at a time.
    Here is the example the breakout signals:
    imagen

█ Usage:
  • When the slope is increasing, it indicates an uptrend.
  • When the slope is decreasing, it indicates a downtrend.
  • When the slope is moving around zero and choppy, it indicates no specific trend or price is in a range zone.
    Uptrend and Range Zone example:
    imagen
    Downtrend example:
    imagen
  • Slope peaks on extreme levels can signal a potential trend reversal point.
  • Breakout of the upper or lower bands can be translated into a trading signal.Indicating that price will probably continue to move in the direction of the breakout.
  • Favor long setups when the slope is increasing or it is positive and favor short setups when the slope is decreasing or it is negative.

Fits with any moving average you use, e.g., EMA, WMA, MA Ribbon, and more.

█ Alert
Alerts are available for both signal conditions.

█ Recap
Take the time to study price movements alongside this indicator for a deeper understanding.Whether you're a novice or experienced trader, this indicator can come helpful
Average True Range (ATR)degreedirectionema_magickiomars_rakeimaslopemoving_averageMoving AveragesslopetrendTrend Analysis

Script de código abierto

Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.

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