This indicator calculates the angle between the latest bar and it's x previous bar, if the angle was higher or lower than your defined angle then the indicator will plot an up or down bar on its histogram.
You can use this indicator to find the market trend direction and ride it as long as it continues, the higher the angle the stronger will be the trend and it will have more momentum.
Trend Angle is a multi-timeframe indicator so you can use it as a filter for higher time frame trend direction too.
- Shows the market condition
- Filters the noise by showing not trending condition as neutral
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Release Date: April 16, 2018
Changed: The angle calculation method
Changed: Improved performance