Normalized Slope As A Measure Of Trend by Mike B. Siroky, MD
Here is a sophisticated tool you can use to not only identify trends but also to help measure their significance. Formulas and functions that you can use in Excel to calculate it are provided for easy implementation.
Linear regression is probably the most widely used technique in statistics, yet it has not been widely applied in technical analysis to determine trend. Most platforms, such as www.stockcharts.com, provide the capability of generating a Pearson correlation coefficient and the slope of a regression line ...