OPEN-SOURCE SCRIPT
Updated Channel of linear regression of rate of change from the mean
The indicator calculates the difference between the closing price and the average as a percentage and after that it calculates the average linear regression and then draws it in the form of a channel.
Preferably use it on 30 min or 15 min or 1 Hour or 2H time frames .
Exiting outside the upper or lower channel limits represents high price inflation, and returning inside the channel means the possibility of the price rising or falling for the average or the other limit of the channel.
Channel lines may represent places of support and resistance.
Preferably use it on 30 min or 15 min or 1 Hour or 2H time frames .
Exiting outside the upper or lower channel limits represents high price inflation, and returning inside the channel means the possibility of the price rising or falling for the average or the other limit of the channel.
Channel lines may represent places of support and resistance.
Release Notes
Some important modifications !Release Notes
Full Updates !Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.