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    Pine Script - Sample Regression Indicator

    Uploaded by

    Koh JZ
    This Pine Script code creates a linear regression trend channel indicator with Pearson's correlation coefficient (R) for a given security over a specified period. It calculates the slope, intercept, and deviation of the regression line and plots the regression line, upper channel, median channel and lower channel lines on the chart along with a label showing the Pearson's R value.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Pine Script - Sample Regression Indicator

    Uploaded by

    Koh JZ
    145 views2 pages
    This Pine Script code creates a linear regression trend channel indicator with Pearson's correlation coefficient (R) for a given security over a specified period. It calculates the slope, intercept, and deviation of the regression line and plots the regression line, upper channel, median channel and lower channel lines on the chart along with a label showing the Pearson's R value.

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    © © All Rights Reserved

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    PDF, TXT or read online from Scribd

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    This Pine Script code creates a linear regression trend channel indicator with Pearson's correlation coefficient (R) for a given security over a specified period. It calculates the slope, intercept, and deviation of the regression line and plots the regression line, upper channel, median channel and lower channel lines on the chart along with a label showing the Pearson's R value.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    145 views2 pages

    Pine Script - Sample Regression Indicator

    Uploaded by

    Koh JZ
    This Pine Script code creates a linear regression trend channel indicator with Pearson's correlation coefficient (R) for a given security over a specified period. It calculates the slope, intercept, and deviation of the regression line and plots the regression line, upper channel, median channel and lower channel lines on the chart along with a label showing the Pearson's R value.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Pine Script - Sample Regression Indicator

    Sample Regression indicator:

    // This source code is subject to the terms of the Mozilla Public License 2.0 at
    https://mozilla.org/MPL/2.0/
    // © aleph_tav

    //@version=5
    // This source code is subject to the terms of the Mozilla Public License 2.0 at
    https://mozilla.org/MPL/2.0/
    // © x11joe
    // Credit given to @midtownsk8rguy for original source code. I simply modified
    to add Pearson's R

    //@version=5
    indicator("Linear Regression Trend Channel With Pearson's R", "LRTCWPR",
    true, format.inherit)
    period = input.int( 20, "Period" , minval=3)
    deviations = input.float( 2.0, "Deviation(s)" , minval=0.1, step=0.1)
    extendType = input.string("Right", "Extend Method" ,
    options=["Right","None"])=="Right" ? extend.right : extend.none
    periodMinusOne = period-1
    Ex = 0.0, Ey = 0.0, Ex2 = 0.0,Ey2 =0.0, Exy = 0.0, for i=0 to periodMinusOne
    closeI = nz(close[i]), Ex := Ex + i, Ey := Ey + closeI, Ex2 := Ex2 + (i * i),Ey2 :=
    Ey2 + (closeI * closeI), Exy := Exy + (closeI * i)
    ExT2 = math.pow(Ex,2.0) //Sum of X THEN Squared
    EyT2 = math.pow(Ey,2.0) //Sym of Y THEN Squared
    PearsonsR = (Exy - ((Ex*Ey)/period))/(math.sqrt(Ex2-(ExT2/
    period))*math.sqrt(Ey2-(EyT2/period)))
    ExEx = Ex * Ex, slope = Ex2==ExEx ? 0.0 : (period * Exy - Ex * Ey) / (period *
    Ex2 - ExEx)
    linearRegression = (Ey - slope * Ex) / period
    intercept = linearRegression + bar_index * slope
    deviation = 0.0, for i=0 to periodMinusOne
    deviation := deviation + math.pow(nz(close[i]) - (intercept - slope *
    (bar_index[i])), 2.0)
    deviation := deviations * math.sqrt(deviation / periodMinusOne)
    startingPointY = linearRegression + slope * periodMinusOne
    var label pearsonsRLabel = na
    label.delete(pearsonsRLabel[1])
    pearsonsRLabel := label.new(bar_index,startingPointY -
    deviation*2,text=str.tostring(PearsonsR),
    color=color.black,style=label.style_label_down,textcolor=color.white,size=size.
    large)
    var line upperChannelLine = na , var line medianChannelLine = na , var line
    lowerChannelLine = na
    line.delete(upperChannelLine[1]), line.delete(medianChannelLine[1]),
    line.delete(lowerChannelLine[1])
    upperChannelLine := line.new(bar_index - period + 1, startingPointY +
    deviation, bar_index, linearRegression + deviation, xloc.bar_index, extendType,
    color.new(#FF0000, 0), line.style_solid , 2)
    medianChannelLine := line.new(bar_index - period + 1, startingPointY ,
    bar_index, linearRegression , xloc.bar_index, extendType,
    color.new(#C0C000, 0), line.style_solid , 1)
    lowerChannelLine := line.new(bar_index - period + 1, startingPointY -
    deviation, bar_index, linearRegression - deviation, xloc.bar_index, extendType,
    color.new(#00FF00, 0), line.style_solid , 2)

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