This indicator overlays trend-following Supertrend bands on the price chart using Average True Range calculations. It plots trailing stop lines, highlights active trend directions, and prints buy or sell shape labels when price closes across band thresholds. I
Indicator · Pine Script v5 · On the chart
Linear Regression Channel
The Linear Regression Channel indicator calculates the slope, average and intercept of a linear regression line over the specified length using the chosen source.
GitHub stars4on the repository
Pine versionv5runs as is
Lines of code115
Settings11inputs
LicenceNone stated
Last update1 year ago5 Apr 2025
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
Linear Regression Channel plots the base regression line and upper and lower channels on the price chart. The channels are drawn using either user-defined deviation multiples or the maximum deviation from the line. Pearson's correlation coefficient can be displayed optionally. Lines extend left or right according to settings. This visualizes trend direction and channel width for the selected period. Main settings adjust length, source, deviation type and multiplier, Pearson display, line extension and colors.
- Linear Regression Line
- Upper Lower Channels
- Deviation Multiplier
- Pearson's R
- Price Chart Overlay
Details
Published by
Hugs-4-Bugs on GitHub
Type
Draws
On the price chart
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 |
|---|---|---|---|
| Length | int | 100 | lengthInput |
| Source | source | close | sourceInput |
| Upper Deviation | bool | true | useUpperDevInput |
| upperMultInput | float | 2.0 | upperMultInput |
| Lower Deviation | bool | true | useLowerDevInput |
| lowerMultInput | float | 2.0 | lowerMultInput |
| Show Pearson's R | bool | true | showPearsonInput |
| Extend Lines Left | bool | false | extendLeftInput |
| Extend Lines Right | bool | true | extendRightInput |
| colorUpper | color | color.new(color.blue, 85) | colorUpper |
| colorLower | color | color.new(color.red, 85) | colorLower |
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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