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David,
You can move the apparent data that LinearReg uses by 5 bars by using:
Forward: Ref(LinearReg(C,periods),5)
Backward: Ref(LinearReg(C,periods),-5)
If you need something for the end of the chart, try:
{My apologies to whoever the author was. I don't remember for sure where I
got this.}
{Same as LinReg line study}
Pe:=Input("Periods",3,1000,10);
Z:=LastValue(LinearReg(C,Pe));
Y:=LastValue(Cum(1))-Cum(1);
U:=Z-(LastValue(LinRegSlope(C,Pe))*Y);
R:=0-(LastValue(Cum(1))-Pe);
A:=U+Ref(C,R)-Ref(C,R);
A;
Other than this, I don't think that there is any predictive value to the
indicator.
Looking at previous support/resistance levels and price extremes is the
extent that I use to "predict" anything. I'm one of those guys that the
market delights in proving wrong if I go too far out on a limb to see around
the corner. I prefer to ride in the "trailer" and let the market show which
hill to take. Kind of like the guy that rides on the back of a county road
repair truck and drops safety cones on the road. When "things" look good, I
drop a cone. When we get to the crest of the hill, I drop another cone and
exit the trade. I have much greater success riding the big hills rather than
trying to extract profits out of every little bump. Keeps trading commission
costs way down too.
-Corey Saxe
----- Original Message -----
From: "David Jennings" <davidjennings@xxxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Thursday, October 18, 2001 2:29 PM
Subject: Re: hello from a newbie - Now Lin Reg
> Corey,
> Thanks for the reply. I like your wave analogy. I haven't used lin reg in
> Metastock, but have used it extensively elsewhere, and was surprised that
> the MetaStock implementation appeared to have no predictive capability
i.e.
> one can't explicitly look at a value say 5 bars into the future - thus
> thought maybe I had its particular implementation around my neck.
>
> I suspect I should given a rather longer explanation of what I was getting
> at. I was looking for an answer which was as simple as last bar on chart
> based on n periods back, or the number of bars back was the same as the
> number forward (less likely) or the number of bars back was set
implicitly.
> Thus, humble apologies.
>
> This prompts question, have you tried using the robust statistic? I've not
> rigorously tried it for use in smoothing price as an input to an
indicator,
> but have found that it gives superior results for volatility /EOD exposure
> calculations.
>
> Many thanks
>
> DJ.
> . ----- Original Message -----
> From: "C.S." <csaxe@xxxxxxx>
> To: "MetaStock List" <metastock@xxxxxxxxxxxxx>
> Sent: Thursday, October 18, 2001 7:29 PM
> Subject: Re: hello from a newbie - Now Lin Reg
>
>
> > David,
> > I will give it a try, at least how I see it. You should really go to a
> > library to find a book on Basic Statistics. I have found that at least a
> > basic grasp of statistics is essential to technical analysis so you can
> > accurately judge if one indicator or system is really "better" than
> another,
> > and by how much. It also speeds the development of an indicator since
you
> > will have a grasp of what is really being measured and can zero in on a
> > specific path for improvement for an indicator, rather than blindly
> plugging
> > numbers into an equation and wasting your time.
> >
> > Imagine standing at the beach and watching the waves roll in. You find a
> > nice flat board 13 feet (periods) long, and throw it lengthwise into the
> > surf so the ends of the board extend from one wave crest to the next.
The
> > ends of the board will slightly sink into the wave crests while the
middle
> > of the board will rise slightly above the trough between the crests. The
> > board is trying to find a true sort of average of the level of the ocean
> as
> > it sees it from its 13 foot (period) world.
> >
> > If the height and shape of both waves are the same, the surface of the
> board
> > will be level. Obviously, if one wave crest is higher or broader than
the
> > other, that end of the board will be higher than the other. The board
will
> > be sloped from horizontal.
> >
> > If we had attached a felt-tip pen to one end of the board and let it
mark
> > the motion of the end of the board onto some paper (yeah, waterproof),
we
> > would see the result of the movement of the end of the board as waves
> moved
> > under it. Although linear regression uses a straight line to form our
> board,
> > MetaStock graphs the line that would result from the end of that board
as
> it
> > moves over the crests and troughs of the close of prices. If we had
thrown
> a
> > shorter board into the surf, it would pitch up and down and show a
larger
> > range of slope changes than the longer board. The pen attached to the
> > shorter board will also more closely graph the shape of the waves. The
> > analogy of the difference between a small boat and a supertanker in a
> storm
> > could also be used.
> >
> > If the foregoing has completely confused you, just do the following:
> > 1. Open a chart of prices and double-click directly on the prices to
> change
> > the price style to line.
> >
> > 2. Go to Insert, and line studies, and draw a 13 period linear
regression
> > line onto the prices anywhere on the graph.
> >
> > 3. Go to Indicator Quicklist and select Linear Regression Indicator. Put
a
> > 13 period indicator onto the prices.
> >
> > 4. Click directly on the 13 period line study bar that you drew in #2,
and
> > holding down the left mouse button, slide it left and right over the
> prices.
> >
> > 5. Cool, eh? Notice that the right end of the linear regression line
study
> > bar perfectly traces out the line that was graphed by the 13 period
Linear
> > Regression Indicator from the Quicklist.
> >
> > 6. Get back to the beach and offer a cold one to that gorgeous blonde
that
> > helped you find the boards.
> >
> > -Corey Saxe
> >
> >
> >
>
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