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MOR Linear Regression Chanel

This indicator is designed for plotting the linear regression channel. For convenience, it has multiple operation modes and drawing of data from the selected timeframe.


Input parameters

  • Price - the price to be used for calculation and plotting the upper and lower boundaries of the channel
    • PriceHighLow - the value of bar's High and Low
    • PriceOpenClose - the value of bar's Open and Close
  • Mode - indicator operation mode
    • Static - the linear regression channel is always plotted starting from BarStart and stops at BarEnd = 0, the channel cannot be modified by dragging the line
    • Dynamic - the linear regression channel is plotted starting from BarStart and stops at BarEnd = 0. When a new bar appears on the chart, the channel increases in size, the beginning of the channel can be modified by dragging the line
    • History - the linear regression channel is plotted starting from BarStart and stops at BarEnd, the beginning and end of the channel can be modified by dragging the line
  • Back - enable/disable the display of the channel in the background
  • MainLine - show/hide the main line of the channel
  • Selectable - \enable/disable the ability to select the channel lines
  • Ray - show/hide the rays of lines
  • Refresh - enable/disable updating the input parameters of the indicator when they are modified, when the terminal is shut down or when the timeframe of symbol is changed
  • TimeFrame - the linear regression channel is plotted using the data from this timeframe; works only for Mode = Static
  • BarStart - the number of the bar to plot the linear regression channel
  • BarEnd - the number of the bar where the linear regression channel stops; works only for Mode = History; for other modes, the value is always 0
  • LINE_PARAMETERS\BASIC_LINES\POSSIBLE LINES - text separators, for easier viewing of the indicator parameters, they do not affect the operation of the indicator
  • Value*Line* - the value of the line deviation from the main line, ranges from -1 (lower limit) to 1 (upper limit); for example: -0.25, 0.5, etc. To hide the line, set any value not in the range of (-1; 1), for example: 4.
  • Color*Line* - line color
  • Style*Line* - line style
  • Width*Line* - line width

By default, the indicator plots the main line of the linear regression, the upper and lower boundaries of the channel, as well as 4 additional lines for separation into zones. In addition, up to 14 lines can be enabled.

Mode Static is more suitable for price monitoring and analysis in a static period (for example: 50, 100, 150) separately or together with other indicators.

Mode Dynamic is more suitable for determining the levels of a probable price reversal, by moving the lines of the linear regression channel to a local Low/High.

Mode History is more suitable for analyzing the price movements on history data, by moving the entire linear regression channel to the area of interest.

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