LonesomeTheBlue

Linear Regression Channel

Hello Traders,


There are several nice Linear Regression Channel scripts in the Public Library. and I tried to make one with some extra features too. This one can check if the Price breaks the channel and it shows where is was broken. Also it checks the momentum of the channel and shows it's increasing/decreasing/equal in a label, shape of the label also changes. The line colors change according to direction.

using the options, you can;
- Set the Source (Close, HL2 etc)
- Set the Channel length
- Set Deviation
- Change Up/Down Line colors
- Show/hide broken channels
- Change line width

meaning of arrows:
⇑ : Uptrend and moment incresing
⇗ : Uptrend and moment decreasing
⇓ : Downtrend and moment incresing
⇘ : Downtrend and moment decreasing
⇒ : No trend

An example for how color of lines, arrow direction and shape of label change.



Enjoy!
Release Notes: Added an option "Show Fibonacci Levels", it can show Fibonacci levels of the channel. and also added alert (before someone asked me to add alert :)

Example: Fibonacci Levels
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Comments

500coins
+1 Reply
@PineCoders, Thank you!
+1 Reply
Someone asked me, “Who hurt you?” I replied, ‘My own Expectations”
You are amazing……. @LonesomeTheBlue
+6 Reply
This publication is now featured in our Editors' Picks: https://www.tradingview.com/scripts/editors-picks/ .
In the name of all TradingView traders, thank you for your valuable contribution to the TradingView community, and congrats!
+4 Reply
@PineCoders, Thank you!
+1 Reply
a dream ... great work!
+3 Reply
great work..thanks
+3 Reply
Thanks for the Christmas present :)
+2 Reply
WoW..... Awesome job. Makes life so much easier and analysis faster.
+2 Reply
I am wondering if alternative time zones can be added to the multitimefrime feature
+2 Reply
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