Trend Reversal Indicator (EMA of slopes)

Good morning Traders
Inspirated by lukescream EMA-slope strategy, today I want to share with you this simple indicator whose possible use-case would be for detecting in advance possible trend reversals, specially on higher timeframes.

Once that you've chosen the desired source ( RSI , EMA or Stochastic k or d), the indicator will calculate its "slope" approximating its first order derivative by the division between the last variation of the series and its last value.
You can see the slope as a white line by enabling the relative checkmark (it's disabled by default since it simply messes up the the graph)

Then, the slope itself becomes the source for two exponential moving averages: the fast one (in blue) has a period of 20 while the slow one (in red, it becomes similiar to a horizontal line actually) has a period of 500

Why the slope? Since all the sources mentioned before are directly or indirectly calculated on the price action, a more aggressiveness in the price movement would be translated into a more (positive/negative) steepness of those indicator (of course this effect would be far more evident if the indicators are calculated on low periods, but really low periods could compromise the consistency of the signals).
In this way, the slope would mirror the decisiveness of price movements and a comparison between two averages calculated from it (the first one based on more recent values, the second one that conisders also older values) could tell you in advance what direction the market is possibly about to take

The usage is simple: once that the fast moving average crosses upward the slow one, this could be a sign of potential trend reversal from bearish to bullish . On the contrary, if the fast EMA crosses downward the slow one, this could be a sign of potential trend reversal from bullish to bearish .

What I suggest you is to integrate this indicator with Exponential Moving Averages plotted on the price candles, in order to have a general bias for opening long or short positions, and with an oscillator as well such as the Stochastisc RSI in order to detect the overbought/oversold zones for opening/closing positions at the right moment.

Happy Trading!
릴리즈 노트: Set the most responsive source as default

- Now you can have a more smoothed curve by enabling the "Use Linear Regression on EMA FAST" option. By increasing the "length" value you will get a more smoothed curve: this helps you to reduce false positives but you may have some delay in the reverse-signal

- STOCHASTIC: Now you can turn this indicator into a proper oscillator using the stochastic calculation. In this way you can spot the reverse signals according to the cross of the moving averages
릴리즈 노트: Added ZSCORE computed on EMAfast (in order to have a centered oscillator as default)

Spotter of local maximum/minimum

Plots the highest/lowest values ever (red and green line)

Plots the simple averages of local max and mins (blue lines)
릴리즈 노트: Added proper zscore calculation

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