OPEN-SOURCE SCRIPT
Open Price Regression Model
Actualizado
nput Variables: The user can adjust the lookbackPeriod and m (multiplier) inputs. The lookbackPeriod specifies the number of previous bars used for regression calculations, and m is used to calculate the confidence interval width.
Calculate Regression Model: The code extracts open, high, low, and close prices for the current candle. It then performs regression calculations for high, low, and close prices based on the open prices.
Calculate Predicted Prices: Using the regression coefficients and intercepts, the code calculates predicted high, low, and close prices based on the current open price.
Calculate Confidence Interval: The code computes the standard errors of the regression for high, low, and close prices and multiplies them by the specified confidence level multiplier (m) to determine the width of the confidence intervals.
Plotting: The predicted high, low, and close prices are plotted with different colors. Additionally, confidence intervals are plotted around the predicted prices using lines.
Implications and Trading Advantage:
The Open Price Regression Model aims to predict future high, low, and close prices based on the current open price. Traders can use the predicted values and confidence intervals as potential price targets and volatility measures. Traders can consider taking long or short positions based on whether the current open price is below or above the predicted prices. Can be used on a daily time frame to forecast the day's high and low and use this levels are horizontal price levels on lower timeframes.
Calculate Regression Model: The code extracts open, high, low, and close prices for the current candle. It then performs regression calculations for high, low, and close prices based on the open prices.
Calculate Predicted Prices: Using the regression coefficients and intercepts, the code calculates predicted high, low, and close prices based on the current open price.
Calculate Confidence Interval: The code computes the standard errors of the regression for high, low, and close prices and multiplies them by the specified confidence level multiplier (m) to determine the width of the confidence intervals.
Plotting: The predicted high, low, and close prices are plotted with different colors. Additionally, confidence intervals are plotted around the predicted prices using lines.
Implications and Trading Advantage:
The Open Price Regression Model aims to predict future high, low, and close prices based on the current open price. Traders can use the predicted values and confidence intervals as potential price targets and volatility measures. Traders can consider taking long or short positions based on whether the current open price is below or above the predicted prices. Can be used on a daily time frame to forecast the day's high and low and use this levels are horizontal price levels on lower timeframes.
Notas de prensa
Used on line chart for displaying actual price (blue line) instead on candles. The 1.282 multiplier is for 80% confidence interval (narrow band), 1.645 for 90% confidence interval and 1.960 for 95% confidence interval and 2.170 for 97% confidence interval (wider band) https://www.tradingview.com/chart/n4nTsEOA/Notas de prensa
minor change Notas de prensa
core changes to the code how it performs the regression Notas de prensa
updated code and simplified 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
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.