OPEN-SOURCE SCRIPT
Linear Regression back
this is a linear regression type of trend line. so we have two linear regressions (the one as lines is current with value in red)
the dashed is the one based on starting point in the past (yellow value)
by this way we can make a trend line type that based on linear regression and not in the regular way based on high and low
crossing any of the backward linear regression or trend line regression show a signal . cross up is green triangle. cross down is red triangle.
so in basic it a linear trend line type of indicator
4 hour
1 hour
the dashed is the one based on starting point in the past (yellow value)
by this way we can make a trend line type that based on linear regression and not in the regular way based on high and low
crossing any of the backward linear regression or trend line regression show a signal . cross up is green triangle. cross down is red triangle.
so in basic it a linear trend line type of indicator
4 hour
1 hour
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.