OPEN-SOURCE SCRIPT
Updated Regression Channel + Levels + RSI Divergence
Description:
This multi-tool script combines a regression channel, pivot levels, RSI divergence, and trade signals with a fakeout filter to help traders identify high-probability setups.
Key Features:
Regression Channel: Linear regression with smoothed upper, middle, and lower bands to highlight trend and volatility.
Ultra Strong Levels: Detects key pivot highs and lows, acting as reliable support/resistance zones.
RSI Divergence: Identifies bullish and bearish divergences for potential reversals.
Trade Signals with Fakeout Filter:
LONG ✔ for bullish setups
SHORT ✔ for bearish setups
WAIT ✖ when conditions are not favorable
Avoids false signals by filtering short-term spikes and RSI extremes.
Info Table: Displays RSI, divergence type, and current trade signal for quick reference.
Inputs:
Regression Window (bars for regression)
Pivot Strength (bars for pivot detection)
Minimum Distance Between Levels (%)
Max Levels Up/Down
RSI Length
Usage:
Use the regression channel to gauge trend direction.
Treat pivot levels as strong support/resistance.
Confirm RSI divergences and trade signals before executing trades.
Best used in conjunction with volume and price action analysis.
This multi-tool script combines a regression channel, pivot levels, RSI divergence, and trade signals with a fakeout filter to help traders identify high-probability setups.
Key Features:
Regression Channel: Linear regression with smoothed upper, middle, and lower bands to highlight trend and volatility.
Ultra Strong Levels: Detects key pivot highs and lows, acting as reliable support/resistance zones.
RSI Divergence: Identifies bullish and bearish divergences for potential reversals.
Trade Signals with Fakeout Filter:
LONG ✔ for bullish setups
SHORT ✔ for bearish setups
WAIT ✖ when conditions are not favorable
Avoids false signals by filtering short-term spikes and RSI extremes.
Info Table: Displays RSI, divergence type, and current trade signal for quick reference.
Inputs:
Regression Window (bars for regression)
Pivot Strength (bars for pivot detection)
Minimum Distance Between Levels (%)
Max Levels Up/Down
RSI Length
Usage:
Use the regression channel to gauge trend direction.
Treat pivot levels as strong support/resistance.
Confirm RSI divergences and trade signals before executing trades.
Best used in conjunction with volume and price action analysis.
Release Notes
Description:The H1 Pro Regression Channel indicator combines multiple powerful technical analysis tools into a single, intuitive overlay for TradingView. It is designed for intraday traders who want clear visual signals for potential entries and exits on a 1-hour timeframe.
Features:
Regression Channel: Automatically calculates a linear regression channel over the selected period, providing dynamic support, resistance, and trend guidance.
Strong Pivot Levels: Detects significant swing highs and lows, ensuring key levels are highlighted on the chart. Levels are filtered to avoid clutter and overlap.
RSI Filter: Integrates RSI (Relative Strength Index) to confirm trend strength and momentum, improving signal reliability.
Intraday Signal Engine: Provides LONG and SHORT signals based on price position relative to the regression channel, pivot levels, candle momentum, and trend direction. Signals are clearly displayed with labels on the chart.
Level Proximity Alerts: Highlights when price approaches significant support or resistance, allowing traders to anticipate potential reactions.
Visual Table: Displays current RSI and trade signal in a table for quick reference.
Usage:
Use on 1-hour charts for intraday trading.
LONG signals appear when price approaches support (lower channel) with bullish momentum and confirmed RSI conditions.
SHORT signals appear when price approaches resistance (upper channel) with bearish momentum and confirmed RSI conditions.
Ideal for trend-following or mean-reversion strategies combined with other technical tools.
Inputs:
Regression Window (length for linear regression)
Pivot Strength (sensitivity for swing highs/lows)
Minimum Level Distance (%)
Maximum Levels to Display
Level Proximity (%) for alerts
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.