Indicators - Moving Average Fan Metric - Update

I went ahead and programmed the MA fan metric mentioned in the previous post here.  It may serve as a way to determine the longer-term trend.  The timing is not exact, but it does seem to pick up the major trends most of the time.  There is some lag which becomes apparent when the price action exhibits shorter cycles.

After I posted my thoughts on the original indicator, I realized why the idea seemed so familiar.  The method is very similar to your typical MACD except it is applied to more than two moving averages.  All the metric would need is a signal line to make it complete.  The slope of a signal line could be used to determine the trend instead of the metric line.

You can notice from the picture above that there are many small oscillations in the indicator.  This is primarily due to the shortest time frame moving average.  If you remove the contribution of the shortest period moving average, it will smooth out the signal a little more.  It may also be possible to reconstruct a composite moving average from the resulting metric signal by creating a cumulative indicator that sums up the the metric values.