OPEN-SOURCE SCRIPT
Slope of EMA
The goal of this indicator is to determine if the asset is in a downtrend or uptrend. To determine an up- or downtrend the slope of the Exponential Moving Average (EMA) is calculated.
Inputs for the slope calculation:
- EMA Length
- Number of candles
Using a longer EMA length or a higher number of candles is generally appropriate for identify longer term trends. The shorter the EMA length and number of candles, the faster the indicator responds.
A positive slope indicates an uptrend and a negative slope a downtrend.
Inputs for the slope calculation:
- EMA Length
- Number of candles
Using a longer EMA length or a higher number of candles is generally appropriate for identify longer term trends. The shorter the EMA length and number of candles, the faster the indicator responds.
A positive slope indicates an uptrend and a negative slope a downtrend.
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 publications is governed by House rules. You can favorite it to use it on a chart.
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