Three Linear Regression Indicator CCH

The TLR indicator is a market trend identification indicator. The idea behind this indicator is to use 3 linear regression lines, one short-term, one medium-term, and one long-term.

The UPTREND will be determined when:

• The long-term linear regression line and the medium-term linear regression line have an uptrend.
• The long-term linear regression line has an uptrend, the medium-term linear regression line has a sideway, and the short-term linear regression line has an uptrend.

The DOWNTREND will be determined when:

• The long-term linear regression line and the medium-term linear regression line have an downtrend.
• The long-term linear regression line has an downtrend, the medium-term linear regression line has a sideway, and the short-term linear regression line has an downtrend.

The remaining cases are determined to have no clear trend.

Indicator Inputs:

• The length of first line:     This is the length of the short-term linear regression line. Its must be 1-500.
• The length of second line: This is the length of the medium-term linear regression line. Its must be 1-500.
• The length of third line:    This is the length of the long-term linear regression line. Its must be 1-500.
• Level of trend detection:  Call it is “X”. X is the degree using to detect trend.
• If the degree of the linear regression line is > X. It’s mean “Downtrend”.
• If the degree of the linear regression line is < -X. It’s mean “Uptrend”.
• If the degree of the linear regression line is ≥ -X and ≤ X. It’s mean “Sideway”.