Hi guys, I'm back with a little improvement on the Bull and Bear Signal I published just last week thanks to some feedback I received from a couple of users, which is of course highly appreciated. Here are the changes that have been implemented compared to v01 : (version 1 is the top indicator, version 2 is the bottom one) in the chart above Formula adapted...
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...
EXPERIMENTAL: Bull and Bear power based on linear regression (this is a non lagging oscillator, the parameter are for the lookup window for the donchian extremes) this indicator can also be used for convergence/divergence.
EXPERIMENTAL: Experiment using Linear Regression based on %atr for decay(decay option is a mutiplier for the atr).
small update: added ability to setup stage 2 length period.
Linear regression bands is constructed by using linear regression curve +/- ATR, for the lower and upper bounds respectively. One advantage of linear regression bands, compared to bollinger bands, is that this indicator is not a lagging indicator.
Script which calculates the linear regression slope, giving an idea where enter or exit in a market position. Please if anybody have suggestions, let me know.
The Linear Regression Slope is based on the Curve. List of All my Indicators - www.tradingview.com