Trendline slopes
How steep the lower and upper trendlines are: how much each rises per bar, in price.
It reads the slope of the same two lines Trendline values draws: the line through the last two swing lows and the line through the last two swing highs. Each slope is the price change per one-minute bar, positive when the line climbs and negative when it falls.
How to read it
- Both slopes above zero is a rising channel; both below zero a falling one; opposite signs mean the lines converge or widen.
- On SPY minute bars 90% of slopes fell between about -0.008 and +0.012 dollars per bar, so judge a slope against that range.
- A slope holds flat until a new swing confirms, then steps to the new line's slope.
What it outputs
- Lower slope
- Price change per bar of the line through the last two swing lows.
- Upper slope
- Price change per bar of the line through the last two swing highs.
Settings
- Swing size
- How far price must turn, as a fraction (0.005 is 0.5%), before a low or high counts as a swing. Raising it keeps only bigger swings, so lines last longer and start later; lowering it redraws them more often on smaller wiggles.
Pitfalls
- Slopes are in dollars per bar, so a 0.01 slope on a $750 stock is far gentler than on a $50 one; compare within one symbol.
- Nothing draws until four swings have formed: at 0.5% on SPY one-minute bars that took about 4,200 bars, some 11 sessions.