PROTECTED SOURCE SCRIPT
Oculus Elite Linear Regression Channel
Oculus Elite Linear Regression Channel
Version 1.0 | Pine Script v6
Overview
The Oculus Elite Linear Regression Channel overlays a data-driven trend channel on your chart by fitting a best-fit regression line to price, then projecting upper and lower bounds based on volatility. It adapts dynamically to market conditions, providing a clear visual framework for identifying trend direction, mean-reversion opportunities, and breakout strength.
Key Features
Median Regression Line
Calculates the linear regression of your chosen source over the specified lookback length, and colors the line green on up-sloping trends and red on down-sloping trends.
Volatility-Based Bands
Upper and lower channel boundaries plotted at a user-defined multiple of the standard deviation from the regression line.
Configurable Fill
Optionally shade the area between bands for enhanced visual clarity.
Touch & Breakout Alerts
Built-in alert conditions trigger when price crosses into or submits a close beyond either channel band.
Slope-Change Labels
Labels appear when the regression slope changes direction, marking potential trend inflection points.
How to Use
Apply the Script – Best on intraday or shorter-term charts (1 m–1 h).
Set Inputs – Adjust regression length, deviation multiplier, and select your price source.
Interpret the Channel
Trend Direction: Follow the colored median line’s slope.
Mean Reversion: Watch for price approaching the regression line after touching a band.
Breakouts: Trade breakouts when price closes beyond the bands (confirm with alerts).
Manage Alerts – Enable touch or breakout alerts to receive notifications when key levels are tested.
Inputs
Regression Length: Number of bars to include in the linear regression (default: 100)
Deviation Multiplier: Standard-deviation multiple for band width (default: 2.0)
Source: Price series to regress (default: close)
Show Median Line: Toggle regression line visibility
Show Bands: Toggle upper/lower band visibility
Fill Between Bands: Toggle shading between bands
Alert on Band Touch: Enable alerts when price crosses a band boundary
Alert on Band Breakout: Enable alerts when price closes beyond a band
Version History
1.0 – Initial release with dynamic regression, volatility bands, alerts, and slope labels.
Disclaimer
This indicator is provided for educational purposes. Always backtest with your own parameters and apply disciplined risk management before trading live.
Version 1.0 | Pine Script v6
Overview
The Oculus Elite Linear Regression Channel overlays a data-driven trend channel on your chart by fitting a best-fit regression line to price, then projecting upper and lower bounds based on volatility. It adapts dynamically to market conditions, providing a clear visual framework for identifying trend direction, mean-reversion opportunities, and breakout strength.
Key Features
Median Regression Line
Calculates the linear regression of your chosen source over the specified lookback length, and colors the line green on up-sloping trends and red on down-sloping trends.
Volatility-Based Bands
Upper and lower channel boundaries plotted at a user-defined multiple of the standard deviation from the regression line.
Configurable Fill
Optionally shade the area between bands for enhanced visual clarity.
Touch & Breakout Alerts
Built-in alert conditions trigger when price crosses into or submits a close beyond either channel band.
Slope-Change Labels
Labels appear when the regression slope changes direction, marking potential trend inflection points.
How to Use
Apply the Script – Best on intraday or shorter-term charts (1 m–1 h).
Set Inputs – Adjust regression length, deviation multiplier, and select your price source.
Interpret the Channel
Trend Direction: Follow the colored median line’s slope.
Mean Reversion: Watch for price approaching the regression line after touching a band.
Breakouts: Trade breakouts when price closes beyond the bands (confirm with alerts).
Manage Alerts – Enable touch or breakout alerts to receive notifications when key levels are tested.
Inputs
Regression Length: Number of bars to include in the linear regression (default: 100)
Deviation Multiplier: Standard-deviation multiple for band width (default: 2.0)
Source: Price series to regress (default: close)
Show Median Line: Toggle regression line visibility
Show Bands: Toggle upper/lower band visibility
Fill Between Bands: Toggle shading between bands
Alert on Band Touch: Enable alerts when price crosses a band boundary
Alert on Band Breakout: Enable alerts when price closes beyond a band
Version History
1.0 – Initial release with dynamic regression, volatility bands, alerts, and slope labels.
Disclaimer
This indicator is provided for educational purposes. Always backtest with your own parameters and apply disciplined risk management before trading live.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script protetto
Questo script è pubblicato come codice protetto. Tuttavia, è possibile utilizzarlo liberamente e senza alcuna limitazione – per saperne di più clicca qui.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.