Hi guys, I'm back with a little improvement on the Bull and Bear Signal I published just last week thanks to some feedback I received from a couple of users, which is of course highly appreciated.
Here are the changes that have been implemented compared to v01 :
(version 1 is the top indicator, version 2 is the bottom one) in the chart above
Formula adapted...
The base code for this indicator was created by RicardoSantos
What I added is a signal line that indicates when to buy and when to sell.
Advised use :
Combine with a zero-lag indicator like ZeroLagEMA_LB by LazyBear (suggested period = 34)
Then use the following Rules of engagement :
Current price > ZLEMA & Signal line of BBP_NM is green : BUY
Current...
EXPERIMENTAL:
Bull and Bear power based on linear regression (this is a non lagging oscillator, the parameter are for the lookup window for the donchian extremes)
this indicator can also be used for convergence/divergence.
Linear regression bands is constructed by using linear regression curve +/- ATR, for the lower and upper bounds respectively. One advantage of linear regression bands, compared to bollinger bands, is that this indicator is not a lagging indicator.
Script which calculates the linear regression slope, giving an idea where enter or exit in a market position.
Please if anybody have suggestions, let me know.
![EURUSD: [RS]Linear Regression Bands V2](https://s3.tradingview.com/e/E2c7M9cV_mid.png "[RS]Linear Regression Bands V2")
![EURUSD: [NM]Improved Linear Regression Bull and Bear Power v02](https://s3.tradingview.com/g/GQZct22g_mid.png "[NM]Improved Linear Regression Bull and Bear Power v02")
![EURUSD: [RS][NM]Improved Linear Regression Bull and Bear Power v01](https://s3.tradingview.com/4/4X2icV1L_mid.png "[RS][NM]Improved Linear Regression Bull and Bear Power v01")
![EURUSD: [RS]Linear Regression Bull and Bear Power V0](https://s3.tradingview.com/o/oQWiBbH5_mid.png "[RS]Linear Regression Bull and Bear Power V0")
![EURUSD: [RS]Decay Channel Candles V0](https://s3.tradingview.com/e/elCt6eNz_mid.png "[RS]Decay Channel Candles V0")
![EURUSD: [RS]Vector Flow Channel V1](https://s3.tradingview.com/q/Qy1BG72G_mid.png "[RS]Vector Flow Channel V1")
