Here is the code for the linear regression channel of standard deviation and standard error. It is the same one than the tools of the platform.
You can change the lookback period which correspond of the amount of candlesticks for the linear regression calculation.
The ChannelType setting is used to change the calculation type of the upper and lower channel between the standard deviation and the standard error. You can also change the deviation multiplier which is set to 1 by default.
//PRC_Std and Ste LinRegChannel | indicator
//Standard Deviation and Standard Error
//Linear Regression Channel
//12.03.2019
//Nicolas @ www.prorealcode.com
//Sharing ProRealTime knowledge
defparam drawonlastbaronly=true
defparam calculateonlastbars=1000
// --- settings
lookback= 200 //channel period
ChannelType = 1 //1= Standard Deviation ; 2= Standard Erro
NbDeviation = 1 //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
drawsegment(barindex[lookback],a+b*lookback,barindex,a+b*0) coloured(colorRed,colorGreen,colorBlue)
//channel
if ChannelType = 1 then //Standard Deviation
dat = std[lookback]*NbDeviation
else
dat = ste[lookback]*NbDeviation
endif
drawsegment(barindex[lookback],(a+b*lookback)+dat,barindex,a+b*0+dat) coloured(colorRed,colorGreen,colorBlue)
drawsegment(barindex[lookback],(a+b*lookback)-dat,barindex,a+b*0-dat) coloured(colorRed,colorGreen,colorBlue)
return