OPEN-SOURCE SCRIPT

Simple Moving Average Slope [AstrideUnicorn]

The Simple Moving Average Slope indicator (SMAS) is a technical analysis tool designed to help traders detect the direction and strength of the current trend in the price of an asset. It is also a great tool for identifying sideways markets. The indicator plots the slope of a simple moving average (SMA) of the closing prices over a specified time period. The slope is normalized by dividing it by the standard deviation of the slope over a longer time period.

HOW TO USE
Traders can use the Simple Moving Average Slope indicator in various ways. One common way is to look for bullish or bearish signals. A bullish signal occurs when the normalized slope rises above a predetermined threshold, resulting in the indicator turning green, indicating an upward trend in the market. Conversely, a bearish signal is generated when the normalized slope falls below the negative value of the threshold, causing the indicator to turn red, signaling a downtrend in the market. When the normalized slope falls between the positive and negative threshold values, a neutral signal is generated, indicating that the market is moving sideways. This can help traders avoid false trend signals from other indicators and strategies that may occur when the market is in a sideways regime. Additionally, traders can use the Simple Moving Average Slope indicator in conjunction with other technical indicators to confirm the trend direction.

SETTINGS
Window - specifies the number of bars used to calculate the SMA slope. The default value is 20.
Threshold - specifies the threshold value used to generate the bullish and bearish signals. The default value is 0.6. Traders can adjust these settings based on their trading strategy and the asset being analyzed.
astrideunicornCentered OscillatorscyclemarketreversalreversalsidewaysSimple Moving Average (SMA)Trend Analysistrendtradingunicornunicorntrading

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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