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-------Original Message-------
From: Steve Guiot
Date: Wednesday, December 10, 2003 5:14:43 PM
To: omega-list@xxxxxxxxxx
Subject: Re: Re[6]: TL Angle function
I don't know of any application of the raw slope or angle functions that
anyone actually uses as indicators.
Their main purpose is for the calculation and manipulation of other more
complex tools
such as linear regression channels, Andrew's Pitchfork , R-Squared etc.
Without the slope function for example you would be unable to even draw a
trendline on your chart.
-------Original Message-------
From: Henry Amand
Date: Wednesday, December 10, 2003 5:04:28 PM
To: omega-list
Subject: Re: Re[6]: TL Angle function
Jimmy Snowden wrote:
> Oh I didn't say it was usable. You have to pick your poison on slope.
> I've never known really good trader that used slope. You do have to
> pick something like Close or highs or Xaverage or something to compute
> the slope on. Slope is really easy if you are figuring a slope for a
> roof. The thing is flat. Well most of the time. Are charts are
> never flat. Slope goes crazy. A slope on two bars might be 85
> degrees up then the next bar is down so the two bar slope could be
> negative. I SAY SLOPE IS PRETTY USELESS IN MARKET WORK.
Well... useless....
If it would be usable i would calculate a longer term slope than
the short slope you are talking about.
I could imagine that if the slope is "steap" up (hope i use the
right word) it means the trend is stronger than if the slope
is barely going up. (like in your example)
I could imagine that it could be a nice "second or third" indicator.
If the slope is steap, then buy some extra. Some kind of money
management.... (ofcourse, it might be the other way around but
that can be backtested)
So if there would be a way to calculate it and it would give
the same results every time (not being dependend on the
chart) i could imagine it would be usefull...
i just don't see a way of how to calculate it....
so for me.. it's also useless indeed... but maybe.. some
succesfull trader has found a way to use it :-)
greetings
.
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