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Indicators

Linear Regression Study - indicator for MetaTrader 5

Mladen Rakic | English Русский 中文 Español Deutsch 日本語 Português

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939
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votes: 12
Published:
2018.05.02 16:38

Linear regression line with an addition of standard error channel projection.

Linear regression attempts to model the relationship between two variables by fitting a linear equation to observed data. One variable is considered to be an explanatory variable, and the other is considered to be a dependent variable. For example, a modeler might want to relate the weights of individuals to their heights using a linear regression model.

Two things to pay attention to:

  • The color of the linear regression line is not based on the slope of the linear regression value but on the slope of the corresponding linear regression value for the given point.
  • The channel is not a equal linear regression channel : the channel is calculated using standard error and can not be compared to the linear regression channel (except for the middle line).
WSO & WRO Channel WSO & WRO Channel

This version of WSO (Widner Support Oscillator) and WRO (Widner Resistance Oscillator) shows channel on chart instead of displaying oscillator values in a separate window.

WSP & WRO WSP & WRO

WSO (Widner Support Oscillator) and WRO (Widner Resistance Oscillator).

Volatilty Bands Volatilty Bands

This is the version that David Rooke proposes as a solution to Bollinger Bands issues.

Volatility Bands Percent Volatility Bands Percent

This is the version that David Rooke proposes as a solution to Bollinger Bands issues in a percent representation.