Indicators: TrendLinearReg
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TrendLinearReg:
A smooth non-normalized oscillator implemented in the form of a color histogram.
How does trend change? How to select flat? How to trade? ... etc. If we assume that the trend of N bars is a straight line, we can calculate the parameters of this line. Equation of the line is y = bx + c. The line slope is characterized by the "b" coefficient.
The indicator calculates this parameter by linear regression for every bar and displays it in a separate window. Color green shows that the value that is greater than the previous one, i.e. the angle increases, the red means just the opposite.
Author: Nikolay Kositsin