Description
The Linear Regression Channel Variable study is an enhanced version of Linear Regression Channel 100%, which enables user to customize calculation mechanism. The distance at which upper and lower lines are plotted can be set manually as percentage of the greatest distance between the Linear Regression Line and the specified price. Another difference is that users are free to display the study for a specified number of last plotted bars, not only for the entire chart.
Input Parameters
| Parameter | Description |
|---|---|
price
|
The price used in calculations. |
width of channel
|
The distance between the middle and upper/lower line, in percent. |
full range
|
Defines whether or not to calculate the study for the entire chart. |
length
|
The number of last bars for which the study is calculated if the full range input is set to "No".
|
Plots
| Plot | Description |
|---|---|
MiddleLR
|
The Linear Regression Line of price. |
UpperLR
|
The upper line. |
LowerLR
|
The lower line. |
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.