Linear Regression Slope — Indicator by UDAY_C_Santhakumar

Corrected Version, for

VERSION - 2 () updated for Custom Length, and fixed some formula glitches.

Uday C Santhakumar

Open-source script

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// Created by UCSgears -- Version 1 (redone)
// Simple linear regression slope - Good way see if the trend is accelarating or decelarating

study(title="UCSGEARS - Linear Regression Slope", shorttitle="UCS-LRS", overlay=false)
src = close
len = input(defval=5, minval=1, title="Slope Length")
lrc = linreg(src, 50, 0)
lrs = (lrc-lrc[len])/len
alrs = sma(lrs,9)
loalrs = sma(lrs,50)

uacce = lrs > alrs and lrs > 0 and lrs > loalrs
dacce = lrs < alrs and lrs < 0 and lrs < loalrs

scolor = uacce ? green : dacce ? red : blue

plot(lrs, color = scolor, title = "Linear Regression Slope", style = histogram, linewidth = 4)
plot(alrs, color = white, title = "Average Slope")
plot(0, title = "Zero Line", color = white)