OPEN-SOURCE SCRIPT

Volume-Supported Linear Regression Trend

Actualizado
Hello Traders,


Linear Regression gives us some abilities to calculate the trend and if we combine it with volume then we may get very good results. Because if there is no volume support at up/downtrends then the trend may have a reversal soon. we also need to check the trend in different periods. With all this info, I developed Volume-Supported Linear Regression Trend script. The script checks linear regression of price and volume and then calculates trend direction and strength.


You have option to set Source, Short-Term Period and Long-Term Period. you can set them as you wish.

By default:
Close is used as "Source"
Short-Term Period is 20
Long-Term Period is 50


in following screenshot I tried to explain short term trend (for uptrend). Volume supports the trend? any volume pressure on trend? possible reversal? same idea while there is downtrend.
imagen

in following screenshot I tried to explain long term trend:
imagen

You can also check Positive/Negative Divergences to figure out possible reversals (to automate it, you can use Divergence for Many Indicators v4, it has ability to check divergences on external indicators)
imagen


Enjoy!



Notas de prensa
_rate function fixed. (Thanks to Earthless85)
Notas de prensa
Added explanation
unnecessary commands removed
Notas de prensa
options added for the lines and columns
buypressuredailychartsDaily PivotshighertimeframesLinear RegressionlonesomethebluesellpressureSupply ZonetrendtradingVolumeVolume Weighted Moving Average (VWMA)

Script de código abierto

Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.

¿Quiere utilizar este script en un gráfico?

Exención de responsabilidad