Spanish
Portuguese
French
Italian
GermanSlope Direction Line – SDL
The Slope Direction Line indicator is a technical analysis tool that helps traders identify the direction and strength of a trend in a financial market. It is a simple indicator that plots a line on a chart based on the slope of a weighted moving average. The slope of the line can be used to determine whether a market is trending up, down, or sideways, and the strength of the trend can be determined by the angle of the line. The Slope Direction Line indicator can be used in conjunction with other technical indicators, such as oscillators and volume, to confirm trend direction and strength and make more informed trading decisions.
The indicator has four parameters:
- Period – refers to the number of periods on which the modified moving average line is based.
- MA method – refers to the type of modified moving average line used.
- Computed From – refers to the source of the price data on each bar
The indicator has one line:
- SDL
- Open the Algo Wizard in SQX
- Select Customize
- Select Custom Blocks
- Import Custom Blocks
- Save them
You can easily do your conditions in Custom blocks. More information you can find here:
- https://strategyquant.com/doc/strategyquant/custom-blocks/
- https://strategyquant.com/doc-category/strategy-templates-custom-blocks/
- https://www.youtube.com/watch?v=CGkn5kh_etc
In this module, you can also modify the custom blocks – change the periods, change the steps, etc.
How to import custom indicators to SQX:
Awesome !!!!! Thank you Clonex !
Whenever SDl is in the strategy it would not match tradestation report, therefore I removed this block, but I do appreciate clonex fro ideas.
Hey .I will check it and fix today.
Please, how can I define a buy or sell signal when the color of the Slope Direction Line changes? I can tell that SDL is rising or falling, but I can’t tell that if SDL[2] was red and SDL[1] was green = buy. Thank you.
Hi,
to get the current slope you need to check two different values of SDL using different shift values. For example IF SDL[1] > SDL[2] it is rising … while when SDL[1] < SDL[2] then you know SDL is falling