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Three Linear Regression Channels

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Bands and Channels regressions statistics linear-regression channelline multiple
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bandsandchannels regressions statistics linear-regression channelline multiple
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 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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