PROTECTED SOURCE SCRIPT
Updated Linear Regression Trendlines & Channels
This new script came to me one night all of a sudden and it seems to be common knowledge for how good it works.
The script utilizes linear regression to determine trendlines and channels, identifying instances where closing prices closely align with the regression line. When a significant number of closing prices fall within proximity to the regression line, trendlines are displayed or generated.
Users have the flexibility to customize the proximity criteria by adjusting the margin and percentage thresholds. These parameters allow for precise control over how closely the closing prices should adhere to the regression line, as well as the minimum percentage of closing prices required to fit within the specified margin.
Moreover, the script is adaptable to logarithmic scales, ensuring compatibility with various chart configurations. Additionally, it stores all relevant data in an array for convenient access in future scripts or analyses.
The script utilizes linear regression to determine trendlines and channels, identifying instances where closing prices closely align with the regression line. When a significant number of closing prices fall within proximity to the regression line, trendlines are displayed or generated.
Users have the flexibility to customize the proximity criteria by adjusting the margin and percentage thresholds. These parameters allow for precise control over how closely the closing prices should adhere to the regression line, as well as the minimum percentage of closing prices required to fit within the specified margin.
Moreover, the script is adaptable to logarithmic scales, ensuring compatibility with various chart configurations. Additionally, it stores all relevant data in an array for convenient access in future scripts or analyses.
Release Notes
Remove the array part and republish for better showingProtected script
This script is published as closed-source. However, you can use it freely and without any limitations – 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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – 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.