OPEN-SOURCE SCRIPT
Linear Regression Channel (Std Error) & Trend
This indicator plots a Linear Regression Channel that dynamically adapts to price action using a rolling lookback period. It is designed to assist traders in identifying the dominant trend direction and statistical volatility extremes.
Methodology & Calculations
Center Line (Basis): Calculated using the ta.linreg function. It represents the "best-fit" straight line through the price data over the specified length, serving as a mean-reversion anchor.
Outer Bands: Constructed using Standard Deviation (ta.stdev) multiples added to and subtracted from the center line. These bands expand and contract based on market volatility.
Trend Logic: The color of the channel is determined by the slope of the Linear Regression line. A positive slope turns the channel Green (Uptrend), while a negative slope turns it Red (Downtrend).
Key Features
Trend Visualization: The background color provides an instant visual cue of the market regime.
Visual Signals (UP/DN): Small triangular labels appear when the slope polarity flips (e.g., from negative to positive), marking a potential trend change.
Dynamic Support/Resistance: The Upper and Lower bands act as dynamic levels where price is statistically overextended, often leading to mean reversion or consolidation.
Alerts Included
Trend Change (UP): Triggered when the LinReg slope turns positive.
Trend Change (DOWN): Triggered when the LinReg slope turns negative.
Price > Lower Band: Potential mean reversion (bounce) signal.
Price < Upper Band: Potential mean reversion (pullback) signal.
Settings
Length: Adjusts the lookback period for the regression calculation (Default: 100).
Multiplier: Adjusts the width of the bands based on Standard Deviation (Default: 2.0).
Disclaimer: This tool is for educational purposes and technical analysis only. Past performance does not guarantee future results. Always manage your risk.
Methodology & Calculations
Center Line (Basis): Calculated using the ta.linreg function. It represents the "best-fit" straight line through the price data over the specified length, serving as a mean-reversion anchor.
Outer Bands: Constructed using Standard Deviation (ta.stdev) multiples added to and subtracted from the center line. These bands expand and contract based on market volatility.
Trend Logic: The color of the channel is determined by the slope of the Linear Regression line. A positive slope turns the channel Green (Uptrend), while a negative slope turns it Red (Downtrend).
Key Features
Trend Visualization: The background color provides an instant visual cue of the market regime.
Visual Signals (UP/DN): Small triangular labels appear when the slope polarity flips (e.g., from negative to positive), marking a potential trend change.
Dynamic Support/Resistance: The Upper and Lower bands act as dynamic levels where price is statistically overextended, often leading to mean reversion or consolidation.
Alerts Included
Trend Change (UP): Triggered when the LinReg slope turns positive.
Trend Change (DOWN): Triggered when the LinReg slope turns negative.
Price > Lower Band: Potential mean reversion (bounce) signal.
Price < Upper Band: Potential mean reversion (pullback) signal.
Settings
Length: Adjusts the lookback period for the regression calculation (Default: 100).
Multiplier: Adjusts the width of the bands based on Standard Deviation (Default: 2.0).
Disclaimer: This tool is for educational purposes and technical analysis only. Past performance does not guarantee future results. Always manage your risk.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.