OPEN-SOURCE SCRIPT
Mean Angles
Mis à jour
This indicator plots the trend of the angles made by the chosen means. This trend when analysed over multiple timeframes as well as different lengths can give an indication of the trend in short medium and long term.
For example, in any particular timeframe, when the 20 EMA turns a negative arctan, it signifies that on a shorter timeframe (than the current timeframe) is turning downwards in price. When 50, 100 and 200 EMA turn negative, it confirms the trend reversal. Similarly the 20 EMA will be the first one to turn "Up" or positive to indicate a possible trend reversal on the upside.
The angle of the means will oscillate between +pi/2 and -pi/2.
0 means - EMA is flat
+pi/2 means - almost vertical price rise
-pi/2 means - almost vertical price fall
Between -pi/2 and 0 means EMA is sloped downwards. Moving from -pi/2 to 0 means EMA slope is turning up. Moving from 0 to -pi/2 means EMA slope is falling down even lower and faster.
Between 0 and +pi/2 means EMA is slopped upwards. Moving from +pi/2 to 0 means EMA slope is falling down. Moving from 0 to +pi/2 means EMA slope is turning up even higher and faster.
For example, in any particular timeframe, when the 20 EMA turns a negative arctan, it signifies that on a shorter timeframe (than the current timeframe) is turning downwards in price. When 50, 100 and 200 EMA turn negative, it confirms the trend reversal. Similarly the 20 EMA will be the first one to turn "Up" or positive to indicate a possible trend reversal on the upside.
The angle of the means will oscillate between +pi/2 and -pi/2.
0 means - EMA is flat
+pi/2 means - almost vertical price rise
-pi/2 means - almost vertical price fall
Between -pi/2 and 0 means EMA is sloped downwards. Moving from -pi/2 to 0 means EMA slope is turning up. Moving from 0 to -pi/2 means EMA slope is falling down even lower and faster.
Between 0 and +pi/2 means EMA is slopped upwards. Moving from +pi/2 to 0 means EMA slope is falling down. Moving from 0 to +pi/2 means EMA slope is turning up even higher and faster.
Notes de version
- Removed restrictions to change EMA lengths
- Added Leading Trend EMA - shortest EMA to singal in advance about a possible trend change
Strongly, recommend not to change the length values.
Script open-source
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