OPEN-SOURCE SCRIPT
Updated linreg-histogram
This oscillator is based on linear regression slope
there is two system how the use it first is more conservative which is buy if cross the zero and sell if cross down the zero.
the second is based on direction of the slope - if the slope go up or down .
lets say the asset fall to bellow zero and the price start to pick then the color of histogram will be change from dark red to light red
and before its crossing the zero you can buy
on the other hand let say the asset was going strong high above zero then you can look if the color start to be lighter and the direction is down in this scenario you sell even it above the zero as the momentum is negative
here example of 5 min forex where you can use either system 1 or system 2
there is two system how the use it first is more conservative which is buy if cross the zero and sell if cross down the zero.
the second is based on direction of the slope - if the slope go up or down .
lets say the asset fall to bellow zero and the price start to pick then the color of histogram will be change from dark red to light red
and before its crossing the zero you can buy
on the other hand let say the asset was going strong high above zero then you can look if the color start to be lighter and the direction is down in this scenario you sell even it above the zero as the momentum is negative
here example of 5 min forex where you can use either system 1 or system 2
Release Notes
add MACD to help in system2 of buy and sellOpen-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.