Regression channel: this ProRealTime script is designed to generate a linear regression channel and perform several analytical determinations based on this regression.
Here’s a complete analysis and explanation of the code:
- **Parameter definition** : The script begins by defining the parameters of the regression channel, such as channel type, deviation multiplier and drawing colors.
- **Regression calculations**: it uses a “for” loop to calculate the sums of price (
sumy), time (sumx) and their respective products and squares needed to compute the slope (b) and y-intercept (a) of the linear regression line. - **Draw the regression line**: Once “a” and “b” have been determined, a segment is drawn to represent the regression line.
- **Calculate channel width** : The channel width is determined by the standard deviation or standard error multiplied by a deviation factor “NbDeviation”.
- **Draw channel**: The script draws the upper and lower limits of the channel, as well as the median line. Green triangles suggest bullish zones and red bearish zones, indicating buy and sell zones.
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defparam drawonlastbaronly=true if islastbarupdate then // --- settings //lookback= max(1,barindex) //channel period lookback = 200 ChannelType = 1 //1= Standard Deviation ; 2= Standard Erro NbDeviation = NbD //Deviation multiplier colorRed = 255 colorGreen = 255 colorBlue = 0 // --- end of settings sumx = 0 sumy = 0 sumxy = 0 sumx2 = 0 for cmpt = lookback downto 0 do tmpx = cmpt tmpy = close[cmpt] sumy = sumy+tmpy sumx = sumx+tmpx sumx2 = sumx2 + (tmpx*tmpx) sumxy = sumxy + (tmpy*tmpx) next n = lookback+1 if (sumx2 = sumx * sumx) then // protection to avoid infinite values b = sumxy - sumx * sumy else b = (n * sumxy - sumx * sumy) / (n * sumx2 - sumx * sumx) endif a = (sumy - b * sumx) / n yy=a drawsegment(barindex[lookback],a+b*lookback,barindex,a+b) coloured("red") //channel if ChannelType = 1 then //Standard Deviation dat = std[lookback]*NbDeviation dat2=dat*1.2 else dat = std[lookback]*NbDeviation dat2=dat*1.2 endif compt=0 hauteur=(a+b*lookback)+(a+b) coordX=barindex+lookback dist= (abs((a+b)-hauteur)-(a+b)) Coordx1=barindex[Lookback] coordY=(a+b+dat)-dist coordY1=(a+b)-dist coordY2=(a+b-dat)-dist m = round(((coordy1-(a+b))*100) / lookback,2) Pente = m//round(((a-(a[lookback]))) / lookback,2) barindex,a+b,coordX ,coordy1) ANGLE = round(ATAN(pente)) ec=round(((a+b)+dat/2)-(a+b),2) DRAWTRIANGLE(barindex[lookback],(a+b*lookback)+dat, barindex,a+b*0+dat,barindex,a+b*0) coloured("green",alpha/12) BORDERCOLOR("green",1) DRAWTRIANGLE(barindex[lookback],(a+b*lookback)+dat, barindex[lookback],a+b*lookback,barindex,a+b*0)coloured("green",alpha/12) BORDERCOLOR("green",1) DRAWTRIANGLE(barindex[lookback],(a+b*lookback)-dat, barindex,a+b*0-dat,barindex,a+b*0) coloured("red",alpha/12) BORDERCOLOR("red",1) DRAWTRIANGLE(barindex[lookback],(a+b*lookback)-dat, barindex[lookback],a+b*lookback,barindex,a+b*0)coloured("red",alpha/12) BORDERCOLOR("red",1) drawsegment(barindex[lookback],(a+b*lookback)+dat/2,barindex,a+b*0+dat/2) coloured("gray") style(dottedline2) drawsegment(barindex[lookback],(a+b*lookback)+dat,barindex,a+b*0+dat) coloured("gray") style(dottedline2) drawsegment(barindex[lookback],(a+b*lookback)-dat/2,barindex,a+b*0-dat/2) coloured("gray") style(dottedline2) drawsegment(barindex[lookback],(a+b*lookback)-dat,barindex,a+b*0-dat) coloured("gray") style(dottedline2) drawsegment(barindex[lookback],(a+b*lookback)+dat2,barindex,a+b*0+dat2) coloured("gray") style(dottedline2) drawsegment(barindex[lookback],(a+b*lookback)-dat2,barindex,a+b*0-dat2) coloured("gray") style(dottedline2) //drawsegment(barindex,a+b*0+dat,coordX,a+b*0+dat) coloured("gray") style(dottedline2) //drawsegment(barindex[lookback],(a+b*lookback)-dat,barindex,a+b*0-dat) coloured("gray") style(dottedline2) if futur=1 then a1=a+b+dat a2=a+b+dat/2 a3=a+b-dat a4=a+b-dat/2 a5=a+b b1=a1+(a1-a2)*0.5 b2=a1-(a1-a2)*0.5 b3=a5-(a5-a4)*0.5 b4=a2-(a2-a5)*0.5 b5=a4-(a4-a3)*0.5 drawsegment(barindex,a+b+dat,coordX ,coordy) coloured("gray") style(dottedline2) drawsegment(barindex,a+b,coordX ,coordy1)coloured("red") drawsegment(barindex,a+b-dat,coordX ,coordy2) coloured("gray") style(dottedline2) drawsegment(Coordx1 ,a+b+dat,coordX ,a+b+dat) coloured("gray") style(line,1) drawsegment(Coordx1,a+b+dat/2,coordX ,a+b+dat/2) coloured("gray") style(line,1) drawsegment(Coordx1 ,a+b+dat,coordX ,a+b+dat) coloured("gray") style(line,1) drawsegment(Coordx1,a+b,coordX ,a+b) coloured("red") style(line,1) drawsegment(Coordx1,a+b-dat/2,coordX ,a+b-dat/2) coloured("gray") style(line,1) drawsegment(Coordx1 ,a+b-dat,coordX ,a+b-dat) coloured("gray") style(line,1) DRAWTEXT ("Zone de Forte Vente",10+y1,b1,Dialog,Bold,12) anchor(MIDDLE ,xshift,value)coloured(250,0,00,255) DRAWTEXT ("Zone de Vente",10+y1,b2,Dialog,Bold,12) anchor(MIDDLE ,xshift,value)coloured(250,0,0,255) DRAWTEXT ("Zone d'Allegement",10+y1,b4,Dialog,Bold,12) anchor(MIDDLE ,xshift,value)coloured(250,0,0,255) DRAWTEXT ("Zone de Renforcement",10+y1,b3,Dialog,Bold,12) anchor(MIDDLE ,xshift,value)coloured(0,150,0,255) DRAWTEXT ("Zone d'Achat",10+y1,b5,Dialog,Bold,12) anchor(MIDDLE ,xshift,value)coloured(0,150,0,255) DRAWTEXT ("#a1#",10+y1,a1,Dialog,Bold,12) anchor(MIDDLE ,xshift,value)coloured(0,180,180,255) DRAWTEXT ("#a2#",10+y1,a2,Dialog,Bold,12) anchor(MIDDLE ,xshift,value)coloured(0,180,180,255) DRAWTEXT ("#a3#",10+y1,a3,Dialog,Bold,12) anchor(MIDDLE ,xshift,value)coloured(0,180,180,255) DRAWTEXT ("#a4#",10+y1,a4,Dialog,Bold,12) anchor(MIDDLE ,xshift,value)coloured(0,180,180,255) DRAWTEXT ("#a5#",10+y1,a5,Dialog,Bold,12) anchor(MIDDLE ,xshift,value)coloured(250,0,0,255) endif endif Ra=M>=-1 and M<=1 drawrectangle(25+X,112+Y,180+X,130+Y)anchor(bottomleft)coloured(0,0,150,alpha)bordercolor(0,50,100,0) drawrectangle(25+X,80+Y,180+X,110+Y)anchor(bottomleft)coloured(0,50,100,alpha)bordercolor(0,50,100,0) DRAWTEXT("Tendance #lookback# Périodes",100+X,121+Y,Dialog,Bold,12)anchor(bottomleft) coloured(210,210,210,alpha) if M>1 then drawrectangle(1800-X1,1000,2000-X1,0)anchor(bottomleft)coloured(0,180,0,alpha)bordercolor(0,50,100,0) DRAWTEXT("Haussiére",100+X,95+Y,Dialog,Bold,20)anchor(bottomleft) coloured(0,180,0,255) endif if m<-1 then drawrectangle(1800-X1,1000,2000-X1,0)anchor(bottomleft)coloured(250,0,0,alpha)bordercolor(0,50,100,0) DRAWTEXT("Baissiére",100+X,95+Y,Dialog,Bold,20)anchor(bottomleft) coloured(250,0,0,255) endif if ra then drawrectangle (1800-X1,1000,2000-X1,0)anchor(bottomleft)coloured (180,180,180,alpha)bordercolor (0,50,100,0) DRAWTEXT ("Range",100+X,95+Y,Dialog,Bold,20)anchor(bottomleft ) coloured(0,180,180,255) endif drawrectangle(25+X,40+Y,180+X,78+Y)anchor(bottomleft)coloured(0,50,100,alpha)bordercolor(0,50,100,0) DRAWTEXT ("Pente%#Pente#",100+X,60+Y,Dialog,Bold,15)anchor(bottomleft ) coloured(0,180,180,255) drawrectangle(25+X,1+Y,180+X,38+Y)anchor(bottomleft)coloured(0,50,100,alpha)bordercolor(0,50,100,0) DRAWTEXT ("EcartType #ec#",100+X,20+Y,Dialog,Bold,15)anchor(bottomleft ) coloured(0,180,180,255) drawrectangle(25+X,Y-38,180+X,Y-2)anchor(bottomleft)coloured(0,50,100,alpha)bordercolor(0,50,100,0) if close>= a+b and close < (a+b+dat/2) THEN DRAWTEXT ("Allegement",100+X,Y-20,Dialog,Bold,15)anchor(bottomleft ) coloured(0,180,180,255) endif if close> a+b+dat THEN DRAWTEXT ("Vente Forte",100+X,Y-20,Dialog,Bold,15)anchor(bottomleft ) coloured(250,0,0,255) endif if close>= a+b+dat/2 and close<= a+b+dat THEN DRAWTEXT ("Vente",100+X,Y-20,Dialog,Bold,15)anchor(bottomleft ) coloured(250,0,0,255) endif if close< a+b and close>= (a+b-dat/2)THEN DRAWTEXT ("Renforcement",100+X,Y-20,Dialog,Bold,15)anchor(bottomleft ) coloured(0,180,180,255) endif if close<= a+b-dat/2 and close>(a+b-dat) THEN DRAWTEXT ("Achat",100+X,Y-20,Dialog,Bold,15)anchor(bottomleft ) coloured(0,150,0,255) endif if close<=(a+b-dat) THEN DRAWTEXT ("Achat Fort",100+X,Y-20,Dialog,Bold,15)anchor(bottomleft ) coloured(0,150,0,255) endif ///////////////////////////////////////////////////// return customclose as " Linear regression channel V1 " |
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