I recently came across MASlopePlot and really like the idea of it and would like to be able to use it on one of my strategies. However, i'm struggling with the exact way it works? At first I thought I understood it but after looking at the numbers it was producing, it began making less sense to me.
I assumed that for MASlopePlot (EMA, WDS, 50) it takes the current slope of the EMA 50? When you look at the output value of the MASlopePlot, however, it doesn't seem to match up. Am I completely misunderstanding how this works? I was looking for an easy to use substitute for finding the current slope of an EMA and figured this would be it.
I've attached a screen shot of what i'm talking about. As you can see, in light blue, the EMA 50 is plotted on the chart and at 7:00 on 3/15 it is obvious the slope of EMA 50 is positive... but MASlopePlot is showing a value of -65.64? I can see where it tracks very closely the slope of the candles above it, but what's the deal with the EMA 50 then?
I assumed that for MASlopePlot (EMA, WDS, 50) it takes the current slope of the EMA 50? When you look at the output value of the MASlopePlot, however, it doesn't seem to match up. Am I completely misunderstanding how this works? I was looking for an easy to use substitute for finding the current slope of an EMA and figured this would be it.
I've attached a screen shot of what i'm talking about. As you can see, in light blue, the EMA 50 is plotted on the chart and at 7:00 on 3/15 it is obvious the slope of EMA 50 is positive... but MASlopePlot is showing a value of -65.64? I can see where it tracks very closely the slope of the candles above it, but what's the deal with the EMA 50 then?
Attached Files
Comment