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SlopeStat Layout

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Slope Stat Layout

The slope of the 30 period regression line on a daily time frame provides great insights into the turning points of the trend. This score is reviewed on a 180 day lookback basis to create the z-score.

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There are three layouts available

SlopeStat.LM - SlopeStat layout in light mode

SlopeStat.DM - SlopeStat layout in dark mode

SlopeStat.Scan - Scans for detecting when SlopeStat is signaling a turn in the slope

slopestatlayoutcols.png

There are four columns above with the following calculations​

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  • Slope_RL30: The numerical value of the slope of the 30 period regression line.

  • ZS_SlopeRL30_180: The Slope_RL30 over a 180 bar lookback converted into a z score.

  • Avg_SlopeRL30_180: The average value of the Slope_RL30 over a 180 bar lookback period.

  • SD_SlopeRL30_180:The standard deviation of the Slope_RL30 over a 180 bar lookback period.

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For convenience, two columns connected to the Red Time Frame link are also provided.

The indicator on a chart is shown below.

 

ZS_SlopeRL30_180: Red Timeframe link, plotted as a histogram.

 

Colors are interpreted as:

Green: z score is positive, Red: z score is < 0

Yellow: z score turned up, Orange: z score turned down

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Avg_SlopeRL30_180: is also plotted on the same chart as z score as it is useful to know if average is sloping up or down. Average is on its own scale, plotted to center on zero with the z score.

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Slope_RL30: The actual slope value. The change in the slope mirrors its z score, just on a different scale. To avoid clutter we hide the plot by changing its opacity to zero. If you’d like to see the actual value you can make it visible.

You can also scan for when the Z-Score turns up or down as well as when it crosses from a particular level. We have the following pre-built scans with the corresponding screen shots below

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1. Shows when the SlopeRL30 is turning down or turning up.

2. When the Z-Score is above Z3, implying an overbought issue, and when the Z-Score turns down and falls below Z3.

3. When the Z-Score is below -Z3, representing oversold issue, and when the Z-Score turns up and crosses above -Z3.

 

Note in the scan PZ3 means Plus Z3 and MZ3 means Minus Z3 and so on. 

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DISCLAIMER

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Life Long Edge is not an investment advisory services, nor are we registered investment advisors or broker-dealers and do not purport to tell or suggest which securities customers should buy or sell for themselves. Customers should always check with their licensed financial advisor and their tax advisor to determine the suitability of any investment.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these sites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, the publisher, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.

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HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS, IN GENERAL, ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

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