this indicator gives you the angles of different moving averages
this can give an indication of the momentum of a move increasing or decreasing
you can also set a threshold for a minimum angle to filter out "no trade" zones
I build these indicators for myself and provide them open source, to use for free to use and improve upon,
This indicator tries to identify ranging and trending markets.
It measures the angle of a Moving Average in order to filter out ranging markets.
The idea is to only enter a trend following trade if the slope is steep enough.
In order to create this indicator, I used a strategy script from bennef called "Trend Angle BF" and slightly modified it to transform it...
A script to draw Price Angles and Time Levels given Cycle start point, Cycle space (size), Cycle type ( Bullish / Bearish ), Cycle shape, Time levels space, Time levels count
Makes it easier for you to find where a cycle could end
All shapes are included (Circular, Straight Line, Triangular, Square, Pentagon, Hexagon, Heptagon, Octagon, Nonagon, Decagon)...