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The Linear Regression Indicator in MS does in fact give the least squares point of the end point while the Linear Regression Slope provides the slope of that end point in positive or negative numbers. I have always felt that the LRI is poorly presented on the chart because when you plot it, it looks like a series of curves when in fact a true linear regression line is a straight line mathematically fit to a series of points on an X Y chart. However, a test of the close (if that is the data point you choose) will in fact provide you with the information as to whether or not it is above or below a straight-line slope using today's date as the end point, while the LRS gives you the exact slope of that straight-line. In my opinion you do in fact have an indicator to test for the direction of the price movement and can vary the length by your own definition of time periods.
Jay
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