Moving Average Slope
The Moving Average Slope subtracts the moving average level n-periods ago from the current moving average level. For example, a recent magazine article referred to slope as the 80-day simple moving average of the daily closing price minus the level of the same 80-day simple moving average 10-days previous. We have tried all the many variations on this theme, and we prefer the moving average crossover because it is more effective.
Some people fool themselves by using different indicators that are, in effect, the exact equivalent of one another. For example, it is curious to note that an exponential moving average changes slope from down to up or up to down at the same time that the close crosses the exponential moving average. An n-period simple moving average changes slope from down to up or from up to down at the same time that an n-period rate of change crosses zero. An n-period weighted moving average changes slope from down to up or from up to down at the same time that the close crosses a simple moving average of length n-1 periods. Seemingly different indicators sometimes produce the same results. Watch out for multicolinearity.
Source: Colby, Robert. The Encyclopedia of Technical Market Indicators; (c) 2003.