Modification to the (ARLS) Anderson Regression Line Stretch

• 04/16/2018 at 3:37 PM #68507
  rowestock

  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!

  ARLS

  // 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"

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  // 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"

   

  

  rowestock

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  04/17/2018 at 9:45 AM #68573
  Nicolas

  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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  // 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",

   

  

  Nicolas

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