OPEN-SOURCE SCRIPT
Slope Of The EMA
Updated
This indicator gives an objective measurement of the trajectory of an EMA so that the output is the same regardless of scaling or zoom. It does this by dividing the current bar's EMA output by the previous bar's EMA output. A higher number indicates that the EMA is sloping upward, low indicates a downward slope and 1 = a flat EMA.
Release Notes
1 = flat EMA, not 0.Release Notes
v41Open-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.
Disclaimer
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