Description
The Linear Regression Channel 100% study visualizes general price trend of the entire chart based on Linear Regression Line. It consists of three plots: first one is Linear Regression Line of the specified price, two others are lines equidistant from the first one, plotted above and below. The distance at which the latter two are placed is equal to the greatest distance between the Linear Regression Line and the specified price.
The upper line indicates resistance level while the lower line shows support. If prices stay outside the channel for a long time, it might indicate trend reversal.
Input Parameters
| Parameter | Description |
|---|---|
price
|
The price used in calculations. |
Plots
| Plot | Description |
|---|---|
MiddleLR
|
The Linear Regression Line of price. |
UpperLR
|
The upper line; resistance level. |
LowerLR
|
The lower line; support level. |
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.