Pearsons R adjustments of linear regressions is a good tool to analyse visually the trend basis channeling of the market, one of the common challenges in the scripts which i came across the tradingview community is the lack of the historic places put over the charts where the price actually crossed up/below the channel boundaries,
For me in order to do so we would have to replay the scripts over and over.
I have added the historic marks over the charts ( blue/green/red/orange Arrows which you see on the charts) These arrows are the places where the price have crossed the channel boundaries historically So,
Blue arrow = Bull Intent ,Place where the upper channel boundary line have been crossed Orange arrow = Bear Intent , Place where the Lower channel boundary line have been crossed
Green arrow = Bull Max , Place where the Maximum Upper channel boundary line have been crossed Red arrow = Bear Max , Place where the Minimum Lower channel boundary line have been crossed
For me this type of approach is good for making a strategy out of the concepts visually, in congestion to other indicators I would suggest you guys to check this on alert basis with your setups to derive out the best from linear regressions