HMA Slope Variation [Loxx]

HMA Slope Variation is an indicator that uses HMA moving average to calculate a slope that is then weighted to derive a signal.

The center line

The center line changes color depending on the value of the:

• Slope
  
• Signal line
  
• Threshold
  

If the value is above a signal line (it is not visible on the chart) and the threshold is greater than the required, then the main trend becomes up. And reversed for the trend down.

Colors and style of the histogram

The colors and style of the histogram will be drawn if the value is at the right side, if the above described trend "agrees" with the value (above is green or below zero is red) and if the High is higher than the previous High or Low is lower than the previous low, then the according type of histogram is drawn.

What is the Hull Moving Average?
The Hull Moving Average ( HMA ) attempts to minimize the lag of a traditional moving average while retaining the smoothness of the moving average line. Developed by Alan Hull in 2005, this indicator makes use of weighted moving averages to prioritize more recent values and greatly reduce lag.

Included

• Alets
  
• Signals
  
• Bar coloring
  
• Loxx's Expanded Source Types
  

Versionsinformation:

Updated default inputs.