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"Please may I ask you a question about your useful Linear Regression
Trendline Channel v2.0 indicator?"
http://users.bigpond.com/prominex/MetaStock/LinRegTrend.txt
Hmmm... Who dares to question my MS code?
Ok, Ok... shoot. :)
"When I plot this indicator together with your Channel indicator,
I would expect to see the three lines converge.
The LR lines do but the Bands/Channels don't."
Your code is taking the standard deviation of the Linear Regression
*Indicator*. My code takes the standard deviation of the Linear
Regression *trendline*.
"why do you favour a value of 63 as your default?"
63 trading periods is 3 months' data on a complete daily chart.
IMO, it looks like a useful number of bars to determine intermediate
trend.
jose '-)
--- In Metastockusers@xxxxxxxxxxxxxxx, Kevin <kevin_barry@xxxx> wrote:
> Hello Jose,
>
> Please may I ask you a question about your useful Linear Regression
> Trendline Channel v2.0 indicator?
>
> I have created a LR Bands indicator thus:
>
> Pds:=Input("LR Periods",2,100,20);
> SD:=Input("Standard Deviations",0,3,2);
> LR:=LinearReg(C,Pds,S,1);
> Upper:=LR + Stdev(LR,Pds)*SD;
> Lower:=LR - Stdev(LR,Pds)*SD;
> Upper;
> LR;
> Lower;
>
> When I plot this indicator together with your Channel indicator, I
would
> expect to see the three lines converge. The LR lines do but the
> Bands/Channels don't.
>
> I see that in your code, you have made an adjustment to the
calculation of
> the Standard Deviation. Would you mind explaining the reasoning
behind that
> part of your formula? And, as I'm at it, why do you favour a value
> of 63 as your default?
>
> Thanks in advance.
>
> Regards,
> Kevin
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