Acc LRC is Linear Regression Channel
The Linear Regression Channel was first introduced as a technical analysis tool by Gilbert Raff in 1991. The indicator is still extremely popular among those who trade forex, stocks and even binary options.
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The Linear Regression Channel consists of two parallel lines that are equally distant above and below the trend line of the linear regression. A specific feature of our indicator is the ability to select the type of distance between the channel borders and the regression line, as well as an option of drawing the last channel value in history.
Available types of distance between the channel borders:
- maximum deviation of the Close price from the linear regression.
- maximum deviation of the High/Low price from the linear regression.
- the value of the Standard Deviation indicator within the channel calculation period
When using Acc LRC, pay attention to the cases when the price reaches one of the channel limits and does not break it, but hits it and starts to move in the opposite direction. If it touches and rolls back from the resistance line, it can be seen as a sell signal, and if it touches and rolls back from the support line, you should consider buying.
Acc LRC can be combined with other indicators.
- Channel Dev - type of distance between the channel borders and the regression line.
- Length - sets the channel length in bars
- Start Bar - the bar number to start channel construction from.
- Dev Dn - deviation factor of the lower channel line.
- Dev Up - deviation factor of the upper channel line.
- Draw Linear Channel? - if set to true, the linear regression channel is drawn.
- DrawHistory? - if set to true, the last channel values should be drawn on all history data
Hi and thanks for the presentation! Suggestions for improving the indicator will be appreciated.
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