This indicator calculates a trend direction and smoothed moving average using a k-nearest neighbours (k-NN) classification algorithm directly on the main price chart. Users can select input price types, target values, neighborhood size, and smoothing periods.
Indicator · Pine Script v4 · On the chart
Forecasting: Locally Weighted Regression
This indicator calculates a locally weighted regression curve alongside a standard linear regression line to detect directional price shifts.
GitHub stars114on the repository
Pine versionv4older, still runs
Lines of code47
Settings5inputs
LicenceNone stated
Last update1 year ago7 Nov 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
Forecasting: Locally Weighted Regression identifies potential buy signals when the weighted line crosses below the linear regression while falling over a designated span, and sell signals when crossing above while rising. Signals plot directly on the price chart as shape labels with optional regression curves. Users can adjust the price source, lookback window, and evaluation span settings.
- Locally weighted regression calculation
- Standard linear regression baseline
- Visual signal labels plotted on chart
- Customizable lookback window and span settings
Details
Published by
capissimo on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Trend, Moving averages, AI / machine learning
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 |
|---|---|---|---|
| Price Data | source | close | price |
| Lookback Window | int | 5 | p |
| Rising/Falling span | int | 8 | span |
| Show curves? | bool | false | crvs |
| Show Labels? | bool | true | lbls |
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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