OPEN-SOURCE SCRIPT
[NM]Improved Linear Regression Bull and Bear Power v02
Hi guys, I'm back with a little improvement on the Bull and Bear Signal I published just last week thanks to some feedback I received from a couple of users, which is of course highly appreciated.
Here are the changes that have been implemented compared to v01 :
(version 1 is the top indicator, version 2 is the bottom one) in the chart above
If you have any further ideas on how to improve the indicator or if you are happy with it and want to share your settings or rules of engagement, please feel free to share them below.
Oh, and don't forget to click that like button ! :)
Here are the changes that have been implemented compared to v01 :
(version 1 is the top indicator, version 2 is the bottom one) in the chart above
- Formula adapted to calculate the signal if no data is available for either bull or bear
- Added the possibility to smoothen the signal using Arnaud Legroux Moving Average (the benefit of this is that it does not add any lag to the signal)
- Zero line was added
If you have any further ideas on how to improve the indicator or if you are happy with it and want to share your settings or rules of engagement, please feel free to share them below.
Oh, and don't forget to click that like button ! :)
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Check out my FREE indicator scripts:
► tradingview.com/u/Profit_Through_Patience/
► tradingview.com/u/Profit_Through_Patience/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Check out my FREE indicator scripts:
► tradingview.com/u/Profit_Through_Patience/
► tradingview.com/u/Profit_Through_Patience/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.