OPEN-SOURCE SCRIPT

Updated

Three Linear Regression Channels

Plot three linear regression channels using alexgrover's Computing The Linear Regression Using The WMA And SMA indicator for the linear regression calculations.

Settings

Length: Number of inputs to be used
Source: Source input of the indicator
Midline Colour: The colour of the midline
Channel One, Two, and Three Multiplicative Factor: Multiplication factor for the RMSE, determine the distance between the upper and lower level
Channel One, Two, and Three Colour: The channel's lines colour

Usage
For usage details, please refer to alexgrover's Computing The Linear Regression Using The WMA And SMA indicator.

Release Notes

Added visibility toggles for the midline and channels one, two, and three
Changed the style of the midline from a solid line to a dashed line

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.

For quick access on a chart, add this script to your favorites — learn more here.

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.

For quick access on a chart, add this script to your favorites — learn more here.

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.