TMA Slope

The TMA Slope oscillator is a simple slope of a Triangular Moving Average compared and normalized with the Average True Range of the last 100 periods (default setting).

This specific version add 2 triggers to give trading signals according to the slope:

• Above superior trigger, the trend is bullish, so trading is “Buy Only”
• Below inferior trigger, the trend is bearish, trading is “Sell Only”
• If the slope is included between these 2 levels, the market is probably ranging and no new orders should be initiated

These trading signals should be compared between different timeframes (attached examples), for a better accuracy.

Converted from an MT4 indicator, by a request in the English ProBuilder forum.

//PRC_TMA Slope Norm | indicator
//31.10.2017
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
//translated from MT4 code

defparam drawonlastbaronly=true

// --- settings
//eintPeriod = 20
//edblHigh1 = 0.04
//edblLow1 = -0.04
//atrPeriod = 100
// --- end of settings

atr = AverageTrueRange[atrPeriod](close)

dblTma = TriangularAverage[eintPeriod](close)

if barindex>eintPeriod then
 dblPrev = dblTma[1]
 gadblSlope = ( dblTma - dblPrev ) / atr

 if ( gadblSlope[0] > edblHigh1 ) then
  if(gadblSlope[0] < gadblSlope[1]) then
   gadblUp1 = gadblSlope[0]
   gadblUp2 = 0
   gadblDn1 = 0
   gadblDn2 = 0
   gadblMid1 = 0
   gadblMid2 = 0
  else
   gadblUp1 = 0
   gadblDn1 = 0
   gadblDn2 = 0
   gadblUp2 = gadblSlope[0]
   gadblMid1 = 0
   gadblMid2 = 0
  endif
 elsif ( gadblSlope[0] < edblLow1 ) then
  if(gadblSlope[0] < gadblSlope[1]) then
    gadblUp2 = 0
    gadblDn1 = 0
    gadblUp1 = 0
    gadblDn2 = gadblSlope[0]
    gadblMid1 = 0
    gadblMid2 = 0
  else
    gadblUp2 = 0
    gadblUp1 = 0
    gadblDn2 = 0
    gadblDn1 = gadblSlope[0]
    gadblMid1 = 0
    gadblMid2 = 0
  endif
 else
  if(gadblSlope[0] < gadblSlope[1]) then
   gadblMid2 = gadblSlope[0]
   gadblMid1 = 0
   gadblUp1 = 0
   gadblUp2 = 0
   gadblDn1 = 0
   gadblDn2 = 0
  else
   gadblMid1 = gadblSlope[0]
   gadblMid2 = 0
   gadblUp1 = 0
   gadblUp2 = 0
   gadblDn1 = 0
   gadblDn2 = 0
  endif
 endif
endif

if gadblSlope>0 then
 offset = edblLow1
else
 offset = edblHigh1
endif
 
drawtext("#gadblSlope#",barindex,offset*2,Dialog,Bold,16)

if gadblSlope>edblHigh1 then
 drawtext("Buy Only",barindex,offset*3,Dialog,Standard,18) coloured(0,255,0)
elsif gadblSlope<edblLow1 then
 drawtext("Sell Only",barindex,offset*3,Dialog,Standard,18) coloured(255,0,0)
else
 drawtext("Ranging",barindex,offset*3,Dialog,Standard,18) coloured(100,100,100)
endif

return gadblUp1 coloured(0,128,0) style(histogram,1), gadblUp2 coloured(0,255,0) style(histogram,1), gadblDn1 coloured(178,34,34) style(histogram,1), gadblDn2 coloured(255,0,0) style(histogram,1), gadblMid1 coloured(0,128,128) style(histogram,1), gadblMid2 coloured(255,105,180) style(histogram,1), edblHigh1 coloured(100,100,100) style(dottedline) , edblLow1 coloured(100,100,100) style(dottedline)