OPEN-SOURCE SCRIPT
Logarithmic regression
Logarithmic regression (or known as Tseng's tunnels), is used to model data where growth or decay accelerates rapidly at first and then slows over time.
This model is for the long term series data (such as 10 years time span).
The user can consider entering the market when the price below 25% or 5% confidence and consider take profit when the price goes above 75% or 95% confidence line.
Technical issues
*The user have to pan over the chart from the beginning to the end of the study range (such as 10 years of bars) so the pine script could generate those regression lines on the chart.
*If on the chart the number of bar is less than the lookback period, it won't generate any lines as well
This model is for the long term series data (such as 10 years time span).
The user can consider entering the market when the price below 25% or 5% confidence and consider take profit when the price goes above 75% or 95% confidence line.
Technical issues
*The user have to pan over the chart from the beginning to the end of the study range (such as 10 years of bars) so the pine script could generate those regression lines on the chart.
*If on the chart the number of bar is less than the lookback period, it won't generate any lines as well
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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