emiliolb

Linear Regression Slope

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Script which calculates the linear regression slope, giving an idea where enter or exit in a market position.
Please if anybody have suggestions, let me know.
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// Created by emiliolb -- Version 1.0
// Contact emiliolb@outlook.com 
study(title="Linear Regression Slope", shorttitle="LRS", overlay=true)

src = close[0]
len = input(defval=150, minval=1, title="Linear Regression Length")
lrc = linreg(src, len, 0)
plot(lrc, color = red, title = "Linear Regression Curve", style = line, linewidth = 2)

lrprev = linreg(close[1], len, 0)
slope = ((lrc - lrprev) / interval)

//Please if somebody have suggestions how show this better, let me know
codiff = slope
plotarrow(codiff, colorup=teal, colordown=orange, transp=40)
Hi Emelio,
do you know how to code this LRS indicator in javascript?
I don't need the highlight bars or anything else, I just need the lines and to be able change the colour of the line.
Thanks
JS
Reply
Hi,

I'm trying to code a Linear Regression Band indicator that has the same standard deviations as the built in Linear Regression indicator/drawing tool.

The mean of my indicator (code below) is correct but the standard deviation bands are always in the wrong place when I compare them to the same length LR indicator or drawing tool.

Does anyone know how to fix this issue so that the bands match the built in drawing tool/indicator?

Here is my code ...

//@version=3
study(shorttitle="LRB", title="Linear Regression Bands", overlay=true)
source = close
length = input(50, minval=1)
offset = 0
mult = input(2, title="StDev", minval=0.001, maxval=5)
basis = linreg(source, length, offset)
dev = mult * stdev(source, length)
upper = basis + dev
lower = basis - dev
plot(basis, color=red)
plot(upper, color=blue)
plot(lower, color=blue)

Many thanks! Pete
Reply
can period of 14 of linreg be the most suitable setting for intraday trading?
Reply
What determines the length of the arrows? Thanks.
Reply
emiliolb coondawg71
Hi! I am sorry by delay, I saw now your message. I think the arrow length depends on the spread between high and low candle values, not 100% by very close
I am glad you like the tool, I am newbie in this on trading, I am learning on the fly these things.
Thanks!
Emilio
+3 Reply
emiliolb emiliolb
I looked up the code and this sentence determine the arrow's length "plotarrow(slope, colorup=teal, colordown=orange, transp=40)"
Reply
Nice Tool Emilio!
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