Linear Regression Duration Model?
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I'm not sure how many are familiar with the linear regression tool found here: 'Linear Regression Channel'
I'm having a brain fart and can't wrap my brain around how to do this, but I want to describe the concept I am considering implementing.
The linear regression tool is an excellent channeling tool. The problem is that in order to plot a channel, it utilizes a static variable that simple counts the number of bars that a user is looking at. What I want to do is modify the tool so I can see the consistency of a channel. It would almost be like a linear reg. strength indicator. Any ideas on where to get something like this started? I suppose one work around would be something like having 5 custom indicators reporting global variables to an EA, and they just measure the length/strength of the channel's support & resistance lines. Any ideas on how to have a single custom indicator do this would be appreciate though :)