What I added is a signal line that indicates when to buy and when to sell.
Advised use :
Combine with a zero-lag indicator like ZeroLagEMA_LB by LazyBear (suggested period = 34)
Then use the following Rules of engagement :
Current price > & Signal line of BBP_NM is green : BUY
Current price < & Signal line of BBP_NM is red : SELL Please click the like button if you dig this indicator !
//@version=1 // this code uses the Linear Regression Bull and Bear Power indicator created by RicardoSantos // and adds a signal line // Use : if signal line is changes color, you have your signal, green = buy, red = sell // Advice : best used with a zero lag indicator like ZeroLagEMA_LB from LazyBear // if price is above ZLEMA and signal = green => buy, price below ZLEMA and signal = red => sell study(title='[RS][NM]Improved Linear Regression Bull and Bear Power v01', shorttitle='BBP_NM', overlay=false) window = input(title='Lookback Window:', type=integer, defval=10) f_exp_lr(_height, _length)=> _ret = _height + (_height/_length) h_value = highest(close, window) l_value = lowest(close, window) h_bar = n-highestbars(close, window) l_bar = n-lowestbars(close, window) bear = 0-f_exp_lr(h_value-close, n-h_bar) bull = 0+f_exp_lr(close-l_value, n-l_bar) direction = bull*2 + bear*2 plot(title='Bear', series=bear, style=columns, color=maroon, transp=90) plot(title='Bull', series=bull, style=columns, color=green, transp=90) plot(title='Direction', series=direction, style=line, linewidth=3, color= direction > 0 ? green : red)
thank you for yr great job, and making it available to us all..
i have not tried along with LazyBear's zero lag indicator yet.. i'll do it.. ia couple of days
really Thank you..
Looks more for forex so,anyway, hope you give me the expiry time.
n returns the bar number (a built-in variable
the => symbol declares f_exp_lr as a function that requires 2 parameters, height and length and using those parameters calculates the return (_ret) using the formula height + (_height/_length)
This allows to create the calculation formula only once and use it with different parameters throughout the scripts as you can see :
bear = 0-f_exp_lr(h_value-close, n-h_bar)
bull = 0+f_exp_lr(close-l_value, n-l_bar)
hope this helps ... and again sorry for the (very) late reply