An indicator that plots a Nadaraya-Watson kernel regression estimate on the price chart, using a rational quadratic kernel computed only from past bars.
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
The lookback window, relative weighting and starting bar are adjustable. The line turns bullish or bearish colour either when its slope changes or, with smooth colours on, when a second estimate with a configurable lag crosses it. Alerts are provided for colour changes.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Source
source
close
src
Lookback Window
float
8.
h
Relative Weighting
float
8.
r
Start Regression at Bar
int
25
x_0
Smooth Colors
bool
false
smoothColors
Lag
int
2
lag
Bullish Color
color
#3AFF17
c_bullish
Bearish Color
color
#FD1707
c_bearish
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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