Trend Slope Meter This indicator measures the slope of the trend defined by a moving average or an external source. The slope is calculated by the change of price in ticks for a defined number of bars divided by the number of bars.
Settings
Source - Default: close price. Used to calculate the moving average as basis for slope measurement. Can be an external source of a different indicator as well. In case you select an external source, you can disable the moving average calculation. Moving Average Settings
Type - Default: EMA. Type of moving average calculation. All provided out of the box by TradingView.
Length - Default: 50. Length used to calculate moving average. Slope Settings
Length - Default: 50. Length used to calculate slope.
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Update of chart only. For better illustration I used the default EMA provided by Trading View and applied the Trend Slope Meter for this plot.