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I think I understand your comment about volatility and momentum, now. A 'chop' indicator.
There are limits to my ambitions and that's past mine. I'll be pretty happy if I can just do a decent job of plotting the virtual angle of a linear regression channel.
Can you help answer these questions from other members on NexusFi?
I put together a quick indicator (literally 1 line of code) I named "Relative Momentum" for a lack of a better term off the top of my head, but it simply plots Momentum / ATR.
I added a rough "chop zone" (+-2) around the zero line. Above the chop zone indicates trending up, and below trending down.
Ninjatrader 8 version of my 'True Slope Indicator V5", which was for NT 7.
This indicator plots the angle between two points, in degrees, so a normal human can understand it.
In this image, one instance is plotting the slope of an implied line connecting …
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It will plot the angle of the slope measured over X number of bars and can be applied to other indicators, as well as price. The plotted line is fully accessible to external strategies and indicators, including the Market Analyzer.
It treats each tick as a vertical unit and each bar as a horizontal unit when calculating slope, so should be normalized for whatever you use it on. Also, it outputs values in degrees rather than radians or other more arcane measurements.