//@version=4
////////////////////////////////////////////////////////////
// Copyright by HPotter v1.1 30/05/2020
// Linear Regression Intercept is one of the indicators calculated by using the
// Linear Regression technique. Linear regression indicates the value of the Y
// (generally the price) when the value of X (the time series) is 0. Linear
// Regression Intercept is used along with the Linear Regression Slope to create
// the Linear Regression Line. The Linear Regression Intercept along with the Slope
// creates the Regression line.
//
// WARNING:
// - This script to change bars colors.
////////////////////////////////////////////////////////////
study(title="Line Regression Intercept Strategy", overlay = true)
Length = input(14, minval=1)
xSeria = input(title="Source", type=input.source, defval=close)
xX = Length * (Length - 1) * 0.5
xDivisor = xX * xX - Length * Length * (Length - 1) * (2 * Length - 1) / 6
xXY = 0.0
pos = 0
for i = 0 to Length-1
xXY := xXY + (i * xSeria[i])
xSlope = (Length * xXY - xX * sum(xSeria, Length)) / xDivisor
xLRI = (sum(xSeria, Length) - xSlope * xX) / Length
pos := iff(close > xLRI, 1,
iff(close < xLRI, -1, nz(pos[1], 0)))
barcolor(pos == -1 ? color.red: pos == 1 ? color.green : color.blue )
plot(xLRI, color=color.blue, title="LRI")
.
