Linear Regression Slope - Version 2
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Version 2 - Linear Regression Slope. This version will have more freedom on picking your own length for all the Inputs.
One of the main reason I changed it is because, Slope calculation on transition period was not being computed properly. Because the Version 1, looks back the length assigned, and compute the slope based on two candle readings, could be 10 days apart or 50. That was misleading.
Therefore, I changed it to plot daily slope and Smooth it with an EMA .
Linear Regression Curve -
List of All my Indicators - https://www.tradingview.com/p/stocks/?so...
One of the main reason I changed it is because, Slope calculation on transition period was not being computed properly. Because the Version 1, looks back the length assigned, and compute the slope based on two candle readings, could be 10 days apart or 50. That was misleading.
Therefore, I changed it to plot daily slope and Smooth it with an EMA .
Linear Regression Curve -
List of All my Indicators - https://www.tradingview.com/p/stocks/?so...
// Created by UCSgears -- Version 2 // 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 //Input clen = input (defval = 50, minval = 1, title = "Curve Length") slen = input(defval=5, minval=1, title="Slope Length") glen = input(defval=13, minval=1, title="Signal Length") //Linear Regression Curve lrc = linreg(src, clen, 0) //Linear Regression Slope lrs = (lrc-lrc[1])/1 //Smooth Linear Regression Slope slrs = ema(lrs, slen) //Signal Linear Regression Slope alrs = sma(slrs, glen) //loalrs = sma(slrs, (glen*5)) uacce = lrs > alrs and lrs > 0 dacce = lrs < alrs and lrs < 0 scolor = uacce ? green : dacce ? red : blue plot(0, title = "Zero Line", color = gray) plot(slrs, color = scolor, title = "Linear Regression Slope", style = histogram, linewidth = 4) plot(alrs, color = gray, title = "Average Slope")
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Thank you very much for code
Please help me out of code for slope value is above zero and green colour(Buy conditon) or slope value is below zero and red colour (Sell condition)
The Major glitch on version 1 was Slope was calculated from today and 5 days earlier (with default Setting), During transition period, the dips on curve was ignored, because of the look back was 5 days ago. This should be better.