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OmegaTools

Linear Regression

OmegaTools  
Trend Analysis Linear Regression Centered Oscillators linear-regression trendtrader
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trendanalysis linearregression centeredoscillator linear-regression trendtrader
This indicator can be used to determine the direction of the current trend.

The indicator plots two different histograms based on the linear regression formula:
- The colored ones represent the direction of the short-term trend
- The gray one represents the direction of the long-term trend

In the settings, you can change the length of the short-term value, which also influences the long-term as a basis that will be multiplied
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

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