Regression trends are typically used to determine when a price is unusually far from its baseline. The script calculates the linear regression of volume and price to determine the trend direction and strength. This can be used to determine the volume support for upward/downward trends.
As a special feature, this indicator allows you to choose from three (as of 07/20/2021) templates with special presets.
The following templates are available:
In the selection for templates, the option "DISABLED" can also be selected. Then the user-defined settings selectable under it take effect. There are the following setting options.
Other setting options are:
As a special feature, this indicator allows you to choose from three (as of 07/20/2021) templates with special presets.
The following templates are available:
- "Precise" (Period: 4, Smoothing Factor Type: "DISABLED", Smoothing Factor Length = 1).
- "Smooth" (Period: 4, Smoothing Factor Type: "RMA", Smoothing Factor Length = 2)
- "Long Term (Period: 20, Smoothing Factor Type: "DISABLED", Smoothing Factor Length = 1)
In the selection for templates, the option "DISABLED" can also be selected. Then the user-defined settings selectable under it take effect. There are the following setting options.
- "Length": Adjustable period
- "Smoothing Factor: Type": Type of moving average
- "Smoothing Factor: Length": Adjustable period
Other setting options are:
- Color codes: The color codes are explained in the settings
- Display types: "Columns", "Histogram", "Area", "Line", "Stepline"
Release Notes:
- Convert to PineScript5
- add optional Divergence Identification (enabled by default)
Release Notes:
- add new MA Type => "TEMA" (Triple EMA), "Karobein", "RSX Based Noise Remover"