Modification to the (ARLS) Anderson Regression Line Stretch

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  • Author
    Posts
  • 04/16/2018 at 3:37 PM #68507 quote
    rowestock
    Participant
    New

    Hi Nicolas,

    I am revisiting this indicator to modify and improve it.

    Is it possible to replace style(histogram) with style(candle) in the code?

    I would like to see extremes and the wicks/shadows of candles as the histogram can’t show me that and thus the ARLS indicator applies to the close of the bar only.

    My code and screenshot is below. Hope this is possible!

    // Define variables
a=LinearRegression[30](close)
b=Close

// Calculation of difference between the 30 period regression line and the last price expressed as a percentage of the current price
c=(b-a)/b*100
if c>0 then
r=0
b=255
else
r=255
b=0
endif
//deviationP=1000
dev=std[deviationP](c)

return c coloured(r,0,b) style(histogram) as "ARLS", 0 as "Zero", 0+3*dev style(dottedline,2) as "plus 3 dev", 0+2*dev coloured(255,0,0) style(line,3) as "plus 2 dev", 0-3*dev style(dottedline,2) as "minus 3 dev", 0-2*dev coloured(255,0,0) style(line,3)  as "minus 2 dev"
    04/17/2018 at 9:45 AM #68573 quote
    Nicolas
    Keymaster
    Master

    That should do the trick:

    // Define variables
a=LinearRegression[30](close)
b=Close
ao=LinearRegression[30](open)
bo=open
ah=LinearRegression[30](high)
bh=high
al=LinearRegression[30](low)
bl=low

// Calculation of difference between the 30 period regression line and the last price expressed as a percentage of the current price
c=(b-a)/b*100

deviationP=1000
dev=std[deviationP](c)

oopen = (bo-ao)/bo*100
hhigh = (bh-ah)/bh*100
llow = (bl-al)/bl*100

if c>oopen then
r=0
b=255
else
r=255
b=0
endif

drawcandle(oopen,hhigh,llow,c) coloured(r,0,b)

return 0 as "Zero", 0+3*dev style(dottedline,2) as "plus 3 dev", 0+2*dev coloured(255,0,0) style(line,3) as "plus 2 dev", 0-3*dev style(dottedline,2) as "minus 3 dev", 0-2*dev coloured(255,0,0) style(line,3)  as "minus 2 dev" //c coloured(r,0,b) style(histogram) as "ARLS",
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Modification to the (ARLS) Anderson Regression Line Stretch


ProBuilder: Indicators & Custom Tools

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rowestock @rowestock Participant
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This topic contains 1 reply,
has 2 voices, and was last updated by Nicolas
7 years, 10 months ago.

Topic Details
Forum: ProBuilder: Indicators & Custom Tools
Language: English
Started: 04/16/2018
Status: Active
Attachments: 2 files
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