emiliolb

Linear Regression Pendant

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Script which calculates the linear regression pendant, giving an idea where enter or exit in a market position.
Please if anybody have suggestions, let me know.

Thanks
Emilio ((emiliolb@outlook.com))
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// Created by emiliolb -- Version 1.0
// Contact emiliolb@outlook.com 
study(title="Linear Regression Pendant", shorttitle="LRP", overlay=true)

src = close[0]
len = input(defval=150, minval=1, title="Linear Regression Length")
selected_angle = input(defval=20, minval=0, title="Select the angle")
lrc = linreg(src, len, 0)
plot(lrc, color = red, title = "Linear Regression Curve", style = line, linewidth = 2)

lrprev = linreg(close[1], len, 0)
pendant = (lrc - lrprev)
data = (atan(pendant)) > 0

//Please if somebody have suggestions how show this better, let me know
codiff = pendant
plotarrow(codiff, colorup=teal, colordown=orange, transp=40)
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