This indicator combines a scaled Forecast Oscillator with a Point of Force state detector. The Forecast Oscillator calculates the percentage deviation of price from its linear regression curve and normalizes the output between 0 and 1, plotting a line in a sep
Indicator · Pine Script v4 · Own pane
Atraxis' Linear Regression
Atraxis' Linear Regression calculates and plots linear regression channels directly on the price chart.
GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code223
Settings8inputs
LicenceNone stated
Last update2 years ago12 May 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Atraxis' Linear Regression determines the channel slope, intercept, and deviation bands around a specified price source across a user-defined length. Key settings allow traders to customize the channel length, select a higher timeframe resolution, adjust the deviation multiplier, toggle line extensions, and customize line width or broken channel display. It serves as a visual trend and support-resistance tool, providing dynamic boundary levels based on linear regression analysis.
- Linear regression trend channel
- Higher timeframe resolution support
- Configurable deviation multiplier
- Line extension options
Details
Published by
jerryinyang on GitHub
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Channel Length | int | 50 | i_chann1Len |
| Channel Timeframe | timeframe | | chann1Res |
| Show LinReg Channels? | bool | true | showLinReg |
| Source | source | close | linreg_src |
| Deviation | float | 1.0 | devlen |
| Extend Lines? | bool | true | extendit |
| Show Broken Channel | bool | false | showbroken |
| Line Width | int | 2 | widt |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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