Leavitt Convolution Acceleration [CC]

The Leavitt Convolution Slope indicator was created by Jay Leavitt (Stocks and Commodities Oct 2019, page 11), who is most well-known for creating the Volume-Weighted Average Price indicator. This indicator didn't have a good explanation or description so I custom-coded most of it. The way it works is it will give trend spikes in the direction of the underlying trend. If you don't see a spike then it means that the stock isn't trending at the moment. One possible avenue to explore with this indicator is judging the size of the trend spike before you open a position in that direction (or the opposite direction if you are shorting). I added a normalization function using code from a good friend loxx that I recommend leaving on but feel free to experiment with it. I have color coded the lines to turn light green for a standard buy signal or dark green for a strong buy signal and light red for a standard sell signal, and dark red for a strong sell signal.

This is another indicator in a series that I'm publishing to fulfill a special request from ashok1961 so let me know if you ever have any special requests for me.

Release Notes

Fixed an error pointed out by PlusUltraTrading and Yelian

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

For quick access on a chart, add this script to your favorites — learn more here.

cheatcountry

I created the largest stock indicator library:
github.com/ooples/

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