Nico.Muselle

[RS][NM]Improved Linear Regression Bull and Bear Power v01

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The base code for this indicator was created by RicardoSantos
What I added is a signal line that indicates when to buy and when to sell.

Advised use :
Combine with a zero-lag indicator like ZeroLagEMA_LB by LazyBear (suggested period = 34)
Then use the following Rules of engagement :
Current price > ZLEMA & Signal line of BBP_NM is green : BUY
Current price < ZLEMA & Signal line of BBP_NM is red : SELL Please click the like button if you dig this indicator !
Bình luận: I have found a little calculation error in this script where if there is no data for either bull or bear volume, the indicator will not plot. This has been corrected in version 2
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//@version=1
// this code uses the Linear Regression Bull and Bear Power indicator created by RicardoSantos
// and adds a signal line 
// Use : if signal line is changes color, you have your signal, green = buy, red = sell
// Advice : best used with a zero lag indicator like ZeroLagEMA_LB from LazyBear
// if price is above ZLEMA and signal = green => buy, price below ZLEMA and signal = red => sell
study(title='[RS][NM]Improved Linear Regression Bull and Bear Power v01', shorttitle='BBP_NM', overlay=false)
window = input(title='Lookback Window:', type=integer, defval=10)

f_exp_lr(_height, _length)=>
    _ret = _height + (_height/_length)

h_value = highest(close, window)
l_value = lowest(close, window)

h_bar = n-highestbars(close, window)
l_bar = n-lowestbars(close, window)

bear = 0-f_exp_lr(h_value-close, n-h_bar)
bull = 0+f_exp_lr(close-l_value, n-l_bar)
direction = bull*2 + bear*2

plot(title='Bear', series=bear, style=columns, color=maroon, transp=90)
plot(title='Bull', series=bull, style=columns, color=green, transp=90)
plot(title='Direction', series=direction, style=line, linewidth=3, color= direction > 0 ? green : red)
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Bình luận

On trying to learn this language, what the n stands for, also the symbol => on the following piece of code: f_exp_lr(_height, _length)=>
_ret = _height + (_height/_length). Thanks.
+3 Phản hồi
Nico.Muselle syracusepro
@syracusepro, sorry for the late reply
n returns the bar number (a built-in variable
the => symbol declares f_exp_lr as a function that requires 2 parameters, height and length and using those parameters calculates the return (_ret) using the formula height + (_height/_length)

This allows to create the calculation formula only once and use it with different parameters throughout the scripts as you can see :
bear = 0-f_exp_lr(h_value-close, n-h_bar)
bull = 0+f_exp_lr(close-l_value, n-l_bar)

hope this helps ... and again sorry for the (very) late reply
+2 Phản hồi
I have used this indicator on the 1 min and 5 min time period trading Binary options and it is performing well for me. Give it a try!
+1 Phản hồi
Hey, thanks for your feedback. Good to hear some success stories ! Make sure to try out the improved v02 :)
Phản hồi
RUSKY1 Nico.Muselle
@Nico.Muselle, hi niko,just saw a comment of fabfoot, says he uses on binary,but, how to know expiry time?
RUSKY
+1 Phản hồi
@RUSKY1, thanks for your visit and your question, unfortunately I don't have any experience using it for Binary options, as like you are saying there is also the matter of time. I hope @fabfoot can shine a light on this
Phản hồi
RUSKY1 Nico.Muselle
@Nico.Muselle, Thanks
Phản hồi
RUSKY1 fabfoot
@fabfoot, hi fabfoot,you said you used on binary and it did well, but, what expiry do you put.
Looks more for forex so,anyway, hope you give me the expiry time.
Thanks
+1 Phản hồi
fabfoot RUSKY1
@RUSKY1, I no longer use it for Binary trading. I am on to the next thing. Good trading
Phản hồi
RUSKY1 fabfoot
@fabfoot, Thanks
Phản hồi