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peterlondon
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Hi,
I'm trying to code a Linear Regression Band indicator that has the same standard deviations as the built in Linear Regression indicator/drawing tool.
The mean of my indicator (code below) is correct but the standard deviation bands are always in the wrong place when I compare them to the same length LR indicator or drawing tool.
Does anyone know how to fix this issue so that the bands match the built in drawing tool/indicator?
Here is my code ...
//@version=3
study(shorttitle="LRB", title="Linear Regression Bands", overlay=true)
source = close
length = input(50, minval=1)
offset = 0
mult = input(2, title="StDev", minval=0.001, maxval=5)
basis = linreg(source, length, offset)
dev = mult * stdev(source, length)
upper = basis + dev
lower = basis - dev
plot(basis, color=red)
plot(upper, color=blue)
plot(lower, color=blue)
Many thanks! Pete
SwingTradeProfits
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Is there a way to put standard deviations onto this indicator so it is a moving linear regression channel?
UDAY_C_Santhakumar
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Yes, Use the Bollinger Band code and replace the SMA/EMA with the LRC.
cbezuid
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Well played
DiegoKatzman
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Thanks for a great work as usual, USC!
I would like to ask you for a small improvement to this one: the ability to apply the price calculations of the slope to High-Low-Open-Close prices.
I also need the ability to do the same in a DEMA (Double Exp MA) if you can help me :)
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