The Slope indicator measures the slope of a linear regression , which is the line of best fit for a data series. A 20-period Slope, therefore, measures the slope of a 20-day linear regression. ... In general, a positive slope indicates an uptrend, while a negative slope indicates a downtrend.
How do you use slope Indicator?
By applying the slope indicator to both the price chart and the price relative , chartists can quantify the price trend and relative performance with one indicator. A positive slope indicates an uptrend and a negative slope indicates a downtrend.
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