OPEN-SOURCE SCRIPT
Function - Linear Regression
Updated
Description:
A Function that returns a linear regression channel using (X,Y) vector points.
Inputs:
_X: Array containing x data points.¹
_Y: Array containing y data points.¹
Note:
¹: _X and _Y size must match.
Outputs:
_predictions: Array with adjusted _Y values at _X.
_max_dev: Max deviation from the mean.
_min_dev: Min deviation from the mean.
_stdev/_sizeX: Average deviation from the mean.
Resources:
statisticshowto.com/probability-and-statistics/regression-analysis/find-a-linear-regression-equation/
en.wikipedia.org/wiki/Linear_regression
A Function that returns a linear regression channel using (X,Y) vector points.
Inputs:
_X: Array containing x data points.¹
_Y: Array containing y data points.¹
Note:
¹: _X and _Y size must match.
Outputs:
_predictions: Array with adjusted _Y values at _X.
_max_dev: Max deviation from the mean.
_min_dev: Min deviation from the mean.
_stdev/_sizeX: Average deviation from the mean.
Resources:
statisticshowto.com/probability-and-statistics/regression-analysis/find-a-linear-regression-equation/
en.wikipedia.org/wiki/Linear_regression
Release Notes
added color, and extend options, removed some test inputs, optimized array creation process slightly.Release Notes
corrected a issue reported by: marketrading001Open-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.
Disclaimer
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