ucsgears

UCSgears_Linear Regression Slope

This is version 1 of the Linear Regression Slope. In ideal world the Linear regression slope values will remain same for any time period length. because the equation is y = mx+b, where m is the slope. All I did here is m = y/x

The Main Purpose of this indicator is to see, if the Trend is accelerating or decelerating.

The first Blue bar will caution when a strong trend is losing strength. I will leave the rest for you to explore.

I picked AAPL             again, because it does have both up and down trend, in the recent time.

Mistake in the code

Corrected Version -
Linear Regression Slope
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// Created by UCSgears -- Version 1
// Simple linear regression slope - Good way see if the trend is accelarating or decelarating

study(title="UCSGEARS - Linear Regression Slope", shorttitle="UCS-LRS", overlay=false)
src = close
len = input(defval=5, minval=1, title="Slope Length")
lrc = linreg(src, 50, 0)
lrs = (lrc[-len] - lrc)/len
alrs = sma(lrs,9)
loalrs = sma(lrs,50)

uacce = lrs > alrs and lrs > 0 and lrs > loalrs
dacce = lrs < alrs and lrs < 0 and lrs < loalrs

scolor = uacce ? green : dacce ? red : blue

plot(lrs, color = scolor, title = "Linear Regression Slope", style = histogram, linewidth = 4)
plot(alrs, color = black, title = "Average Slope")
plot(0, title = "Zero Line")
This script was updated: Linear Regression Slope - Version 2
ucsgears PRO
2 years ago
Did a mistake on the CODE.

line 8 ===== > replace it with

lrs = (lrc-lrc)/len

Corrected Version -
Linear Regression Slope
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mantracommodity
2 years ago
how to add this indicator on my mt4 charts ?
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ucsgears PRO mantracommodity
2 years ago
I don't use MT4, sorry.
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ucsgears PRO
2 years ago
For those who agree this, Please use the Version - 2 Link is below the Script
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