The Linear Regression Channel (Log) indicator is a modified version of the Linear Regression channel available on TradingView. It is designed to be used on a logarithmic scale, providing a different perspective on price movements.
The indicator utilizes the concept of linear regression to visualize the overall price trend in a specific section of the chart. The central line represents the linear regression calculation, while the upper and lower lines indicate a certain number of standard deviations away from the central line. These bands serve as support and resistance levels, and when prices remain outside the channel for an extended period, a potential reversal may be anticipated.
I have replaced the Pearson values with trend strength levels to enhance understanding for individuals unfamiliar with Pearson correlation.
Great Indicator really , Can you add alarms such as in-channel and out-of-channel, midband breakout? thanks a lot 🙏
Julien_Eche
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@okiayd, Hello there, sorry but this indicator isn't meant to provide alerts. It's designed to be simple. However, I've developed a strategy that automatically identifies the best logarithmic regression channel over the last 2000 periods. Feel free to check it out if you're interested: Advanced Trend Detection Strategy.
okiayd
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@Julien_Eche, Okey , thanks for your answer. I will look ))