Linear Regression Double With Clouds For ThinkOrSwim


I was using a Standard Deviation Channel Double indicator that I found here a long time ago. I wanted to have the same visual with clouds with the 50 and 100 Linear Regressions, so I came up with this. It's crude but it works. Suggestions for improvement are welcome!

# TD Ameritrade IP Company, Inc. (c) 2008-2022
# 2-11-23 Modified by Jeff Horton to show 50 and 100 lines together with clouds for clarity

input price = close;
input length = 21;

plot MiddleLR = InertiaAll(price);
def dist = HighestAll(AbsValue(MiddleLR - price)) * 0.5;
plot UpperLR = MiddleLR + dist;
plot LowerLR = MiddleLR - dist;



def dist1 = HighestAll(AbsValue(MiddleLR - price));
plot UpperL1 = MiddleLR + dist1;
plot LowerLR1 = MiddleLR - dist1;


AddCloud(UpperL1, UpperLR, Color.white, Color.white);
AddCloud(LowerLR1, LowerLR, Color.white, Color.white);

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I am curious to see what improvements can be made for this trade idea. Seems like it would be a good way to find swing trade candidates when they are in the lin reg clouds

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