The Leavitt Convolution Slope indicator was created by Jay Leavitt (Stocks and Commodities Oct 2019, page 11), who is most well-known for creating the Volume-Weighted Average Price indicator. This indicator didn't have a good explanation or description so I custom-coded most of it. The way it works is it will give trend spikes in the direction of the underlying trend. If you don't see a spike then it means that the stock isn't trending at the moment. One possible avenue to explore with this indicator is judging the size of the trend spike before you open a position in that direction (or the opposite direction if you are shorting). I added a normalization function using code from a good friend @loxx that I recommend leaving on but feel free to experiment with it. I have color coded the lines to turn light green for a standard buy signal or dark green for a strong buy signal and light red for a standard sell signal, and dark red for a strong sell signal.
This is another indicator in a series that I'm publishing to fulfill a special request from @ashok1961 so let me know if you ever have any special requests for me.
Is it just me or is there some bug in the code and the indicator doesn't show well on the chart? Otherwise, I'm loving the potential of this indicator!!! :)
cheatcountry
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@Yelian, I could make the lines thicker but not sure if that is what you are referring to. Thank you for your support!
Yelian
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@cheatcountry, All good! I think I figured it out on my end.
@cheatcountry, i think the problem is that the indicator is set to "overlay=true"
cheatcountry
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@PlusUltraTrading, Thanks! I have no clue how that happened but I just published a new version that fixes it so if you can please confirm that it is working as intended
PlusUltraTrading
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@cheatcountry, can happen =). now it's fixed and working as intended. Keep up the good work. Always excited to see when your posting new stuff!