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 basis is computed using linear regression on the selected source with an optional logarithmic transformation. It also draws a regression channel, pivot symmetry lines, a connector between them, and an attraction prediction line. Inputs allow adjusting the regression length from 10 to 2000, the source type, logarithmic symmetry toggle, channel multiplier, and toggling visibility of each component. The indicator draws all elements directly on the price chart and does not provide trading signals or exit rules.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Regression Length
int
100
length
Regression Source
source
hlc3
source
Logarithmic Symmetry
bool
true
useLog
Channel Multiplier
float
2.0
channelMultiplier
Show Mirrored Candles
bool
true
showMirror
Show Regression Channel
bool
true
showChannel
Show Pivot Symmetry Lines
bool
true
showEventLines
Connect Two Event Lines
bool
true
showConnector
Mirror Bull Color
color
color.new(color.aqua, 20)
bullColor
Mirror Bear Color
color
color.new(color.fuchsia, 20)
bearColor
Optimal Line Color
color
color.orange
basisColor
Original Price Event Line
color
color.blue
originalLineColor
Show all 15 settings
Setting
Type
Default
Variable
Mirrored Price Event Line
color
color.fuchsia
mirrorLineColor
Connector Color
color
color.white
connectorColor
Prediction Line Color
color
color.lime
attractionColor
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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