SPY Linear Regression Study

Sorry yet again for the convoluted chart, but I wanted to complete this study utilizing accepted fibonacci levels as linear regression standard deviation levels.

If you manually adjust the periodicity of the chart, you can see that these levels are very well respected over time.

The highest Pearson's R level's were identified for regression analysis; however, as linear regression values change with updated data, these levels are but a snapshot and likely to change over time. I do expect that these levels will be respected short term.

The red support/resistance (S/R) levels were identified from multiple fib regression/extension confluence zones.

LR 1) Multicolored descending Linear Regression ( LR ) channel and levels: derived on 4/26/2020 :: LR Channel: (1H Chart) 521 Bar; 107 Day; R=0.782608789

LR 2) White dashed ascending Linear Regression channel and levels: derived on 4/26/2020 :: LR Channel: (3D Chart) 968 Bar; 4207 Day (11.51 Year); R=0.98333933

LR 3) Yellow and Purple short term ascending LR channel and levels: derived on 4/26/2020 :: LR Channel: (1H Chart) 200 Bar; 40 Day; R=0.89835968

Future Analysis:
  • Observe how s/r and LR levels are respected moving forward.
  • Observe likely mean reversion at three different identified means.


This is really interesting. I don't know Tradingview can do this.
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