Target Audience ++ Programmers ++ Linear Regression Enthusiasts
Please Use this Indicator If you understand the risk posed by linear regression; ill explain some below
Features ++ Raw Formulae for the linear regression --I understand that tradingview explanation on how the linreg function works is not clear to many of you and therefore i included this for developers --Yes its much simpler than you thought, Do Enjoy ++ Alerts --You can get alerts when the lower band is crossed/touched based on your settings --These alerts are not repainting at all.
Linear Regression Limits As you traders know, the market changes from time and new levels will get drawn The alerts are based on these new levels and once we have new ones, we keep updating
Risk This script is similar to Bollinger Bands style of alerts, If the market moves continuously to one direction after the break of a band, The levels change and you may receive a new signal confirmation
Cheers!! Enjoy!! Feel free to ask me for any improvements
Catatan Rilis
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Cleaned Up the code for easier binding
You can customise the ma type but please note; it will change the results of calculation
You can add a display of the trend slope to determine the strength or weakness of a trend. Also, if possible, add MTFs for larger frames and blur them out, which is very beneficial when trading smaller time frames.
DevLucem
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@solobem, pleaes checkout Linear Regression ++ it has that
ITtraders
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Hello, I have a very important question, can the code be used on other platforms? ex: strategy and buildder from ninjatrader8. Thank you, I await your response.
manolo_alm
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Thanks for the fabulous script! one question, there is the posibility of knowing the correlation factor r2? it would be very usefull! Thanks again!
icelatte
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@DevLucem Thank for this great script and i find this very useful. I have one question for you, how can we add buy and sell alert in the script? (just like your other Linear Regression? I find this one more simple to use). Thank you
oyeanish
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its not work in 15 mint candle ??
karthikr44
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Can anyone please give an idea on how to convert this script into Python/Pandas code....Just high level logic will be enough...
'Pine cannot determine the referencing length of a series. Try using max_bars_back' error