Shows slopes of macd line, signal line and histogram. A negative and rising slope shows improvement within a downtrend. A positive and falling slope shows deterioration within an uptrend.
thanks for your help with this @tmyerskerry. question - how can i get histogram_slope to calculate slope from one bar to the next? i am trying to signal an uptrend (buy) when the hist slope is 0-90 degrees or downtrend (sell) when hist slope is 270-360 degrees.
tmyerskerry
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@bhatnagarrohan, Hi - In the settings you can adjust the lookback periods. Set to 1 for the previous bar. For signal just check if slope value is positive or negative. Smoothing is just for visual so you can set that to 2 if you don't need.
Ithimar
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Yesssss!!! Thanks for this bigtime. I'm brand spanking n00b to the nitty gritties of any indicators really, in terms of any kind of coding, Pine included. Hoping you might hold my hand in the future.. or at the very least point me in a better direction of where to gain understanding what you did to build this? I love that I had the idea and of course this amazing community already had it pumped out looking sexy af.
Hashimohamed
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So glad to have found this. Thank you!
miguefinance
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Thank you, you let me know how to calculate slopes for my own use, appreciated :)
scottallen
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I love this - exactly what I was looking for. Only thing is, the units don't make sense to me. @tmyerskerry - Shouldn't the radians to degrees multiplier make the range of this like more like -90 to +90?
tjl11
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I really appreciate this indicator. It works very well and is beautifully written. It gives a good "heads up" that the trend is slowing or about to change direction. When I see the slope invert I like to tighten the stop. Very nice!