Slope Direction Line Request...

[DWetherell]

I would like to post a programming request/challenge to anyone who feels that they could complete the following indicator...

I believe the Slope Direction line has some very good qualities, and is a very useful indicator for trading. What I would like to see is an indicator that incorporates a double slope direction line.

The first line would be a short term line that is used for buy/sell entry points. However, it must be confirmed by a second slope direction line with a longer time period for the overall trend. When both indicators are in agreement, the bars on the chart would activate...Green for long/Red for short.

I have tried this manually and it works very well. It's only drawback is when the currency pair gets into a very tight trading range...Multiple trades are generated, and money is lost on spread costs. If another component could be added to exit trading under these conditions, it would then be a highly effective indicator for trading. This component could also be turned off/on manually.

If someone feels that they can develop such an indicator, your work would be greatly appreciated.

[Apprentice]

This is a working version, I hope I hit the essence of your strategy.

SDLO.lua

(4.28 KiB) Downloaded 726 times

You have to have Slope Direction Line Request indicator, the new version from a few weeks ago.
http://fxcodebase.com/code/viewtopic.php?f=17&t=949&p=1738&hilit=Slope+Direction#p1738