Ocean theory – natural market slope – indicator MetaTrader 5
by
Theory :
Ocean series of indicators were originally created by Jim Sloman (the theory) and Pat Raffalovich (the coder) – additional information can be obtained in Jim Sloman’s book
Natural market slope is an indicator that combines :
Natural market slope period linear regression slopes (weighted by appropriate coefficients) into a single “market slope”
Prices can be additionally pre-smoothed vi TEMA (triple ema)
Even though usually adding pre-smoothing adds lag, using TEMA in this case works very well (default values are using almost insignificant lag)
Usage :
As any usual slope / momentum indicator
You can use the color change of the indicator as an indication of momentum change
You can use the zero cross of the indicator as an indication of “trend” change
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