GMS: Linear Regression Bands

8 ott 2020

So I have been using the linear regression indicator that is built in but wanted to see it represented as bands around price like a keltner channel. I added in 4 tiers of of bands as I have found on shorter time frames that quick spike moves up or down usually end up in the +/- 4 deviation level before presenting a good opportunity to scalp.

The linear regression will change colors based on whether or not the current value is higher or lower than the previous. This just helps to visually see if it may be beginning to turn up or down. I've tossed in a color fill for the outermost bands since that is usually what I look for. Also added in labels showing where the closing price is below the "Deviation 4" level for visual reference in the past.

The default setting is just a 200 period linear regression as it's my preferred length for any time frame.

I hope it helps,

Andre

11 ott 2020

Note di rilascio

Alright, so I added in more fill for the bands in a some what gradient style. I also added in a length option for the color of the linear regression trend. It is simply whether or not the current linreg point is higher/lower than x periods ago.

I also added in the shapes/line at the bottom to easily determine if the linreg is sloping up or down.

Hope it helps!