Ronnie's DikFat Attack - Moving Average Angle/Slope Position

Ronnie's DikFat Attack - True Moving Average Angle/Slope Position

Overview
This TradingView indicator, written in Pine Script version 5, injects energy into your chart analysis by calculating and displaying the angles of four moving averages (MAs). It empowers you to customize each MA—choosing both type and length—to suit your trading strategy perfectly.

How It Works

1. User Inputs:
Under the “MA Settings” group, the script offers an intuitive interface where you can define four different moving averages. Each MA can be set to one of several types (SMA, EMA, SMMA, VWMA, Hull, WMA, or TEMA) and assigned a specific length (number of bars).

2. Dynamic Moving Average Calculation:
A dedicated function (getMA) selects and computes the appropriate moving average using TradingView’s built-in functions (like ta.ema, ta.sma, etc.). This yields four customized MA series based on your inputs.

3. Calculating the Angle of Momentum:
The script employs a robust function (calcAngle) that measures the change between consecutive values of each MA to determine its slope. This slope is then converted into an angle in degrees using the arctangent function, providing a clear and vivid depiction of trend strength and direction.

4. Visualizing the Angles:
Each moving average’s angle is plotted with its own distinct color, enhancing visual clarity. A horizontal line at 0° acts as a reference point, marking the divide between upward and downward momentum.

Potential Uses

Trend Analysis:
The angle measurement offers a dynamic perspective on trend strength. Steep positive angles suggest vigorous upward movement, while steep negative angles indicate strong downward trends.

Signal Confirmation:
By comparing the angles of multiple moving averages, you can quickly spot momentum shifts and crossover points, which may serve as powerful entry or exit signals.

Tailored Strategy Customization:
The flexibility to choose various MA types and lengths allows this tool to adapt seamlessly to different timeframes and trading styles, enhancing its usefulness in diverse market conditions.