Theory:
The Ocean series of indicators was developed by Jim Sloman, who laid out the theoretical framework, and Pat Raffalovich, the mastermind behind the coding. If you're looking to dive deeper, Jim Sloman's book is a great resource.
- The Natural Market Slope indicator is designed to bring together:
- Linear regression slopes over a specified period, adjusted with the right coefficients to create a single 'market slope.'
- Price data that can be further smoothed using TEMA (Triple Exponential Moving Average).
- While adding smoothing can often introduce some lag, TEMA is an exception here, as it functions quite effectively with minimal lag when using the default settings.
How to Use:
- Simply treat it like any standard slope or momentum indicator:
- Watch for color changes in the indicator as a signal for shifts in momentum.
- Pay attention to zero crossings in the indicator, which can indicate potential changes in the trend.
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