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Berlin, Europe
Legendary Market Wizard
Experience: Advanced
Platform: NinjaTrader
Broker: Interactive Brokers
Trading: Futures & Stocks
Posts: 9,887 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,117
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Angles are a concept that worked well prior to the introduction of computers.
Angles only make sense, if you never ever change the horizontal or vertical compression of a chart. and all other modern trading software have an Autoscale feature which adapts the price action to the size of the screen. This means that the vertical compression is changed all the time, and that the angle of the trendline changes with each bar.
The angle of a trendline just represents the average momentum between the two points you connected.
So any momentum or rate of change indicator is at least as good as the angle of the trend line.
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