There are several nice Linear Regression Channel scripts in the Public Library. and I tried to make one with some extra features too. This one can check if the Price breaks the channel and it shows where is was broken. Also it checks the momentum of the channel and shows it's increasing/decreasing/equal in a label, shape of the label also changes. The line colors change according to direction.
using the options, you can; - Set the Source (Close, HL2 etc) - Set the Channel length - Set Deviation - Change Up/Down Line colors - Show/hide broken channels - Change line width
meaning of arrows: ⇑ : Uptrend and moment incresing ⇗ : Uptrend and moment decreasing ⇓ : Downtrend and moment incresing ⇘ : Downtrend and moment decreasing ⇒ : No trend
An example for how color of lines, arrow direction and shape of label change.
Enjoy!
Phát hành các Ghi chú
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Added an option "Show Fibonacci Levels", it can show Fibonacci levels of the channel. and also added alert (before someone asked me to add alert :)
Example: Fibonacci Levels
Phát hành các Ghi chú
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Two new alerts added: -> Up trend -> Down trend (users request)
What would be the best time frame to use this channel
smitty1084
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This is awesome, could you explain the blue dotted line indicators. Thanks!
AMae
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@smitty1084, i was going to ask the same thing, but then i saw if i used the TV tools on the left and put a reg channel from the beginning of the dotted line to the end, it lined up perfectly all the way until it broke the channel. so im guessing from that, ts basically past linear reg channels so u can c where past channels broke and where at. hopefully if im wrong @LonesomeTheBlue will correct me lol :)
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