Here is a little something I came up with the other day.
I could not find either a Linear Regression Forecast or Lin.Reg Intercept studies in ThinkOrSwim, so I decided to make a simple study that incorporates all 3 methods of Linear Regression plots (Standard, Forecast, and Intercept), and allow users to choose which mode they want.
Quite a clear representation of momentum crossover can be seen with 2 separate plots, one a Forecast and the other an Intercept. (Giving them both the same length however.) The two lines will approach each other as momentum slows and the lines cross when momentum reverses.
I hope you find this useful, and look forward to your comments and suggestions.
Good luck with your trading!
Steve
[SD] Multi Linear Regression v1.0.0
Shared Study: https://tos.mx/VP1YaMm
I could not find either a Linear Regression Forecast or Lin.Reg Intercept studies in ThinkOrSwim, so I decided to make a simple study that incorporates all 3 methods of Linear Regression plots (Standard, Forecast, and Intercept), and allow users to choose which mode they want.
Quite a clear representation of momentum crossover can be seen with 2 separate plots, one a Forecast and the other an Intercept. (Giving them both the same length however.) The two lines will approach each other as momentum slows and the lines cross when momentum reverses.
I hope you find this useful, and look forward to your comments and suggestions.
Good luck with your trading!
Steve
[SD] Multi Linear Regression v1.0.0
Shared Study: https://tos.mx/VP1YaMm
Code:
#==# [SD] Multi Linear Regression Indicator v1.0.0
#//# Choose from: Standard, Intercept, or Forecast modes.
#//# Written by Steve Day, [2023/05/10]
#//# UseThinkScript.com UserID: steveday72
#!!# DISCLAIMERS:
#!!# No guarantees as to the effectiveness of this indicator are neither expressed nor implied.
#!!# By using this indicator you agree that the developer is not liable for any losses you may incur while using it.
#!!# Always trade using due-diligence.
#!!# Test thoroughly to ensure it works with your trading system.
#!!# This indicator may not be sold or paywalled without my express permission.
#!!# All distributions, including translations or modified derivatives, must included this entire text.
input mode = {default "Standard", "Intercept", "Forecast" };
input price = close;
input length = 14;
input displace = 0;
def lsma = Inertia(price[-displace], length);
def slope = (lsma - lsma[length - 1]) / length;
plot LinReg;
switch(mode) {
case "Standard":
LinReg = lsma;
case "Intercept":
LinReg = lsma - (slope * (length - 1));
case "Forecast":
LinReg = lsma[length - 1] + (slope * length);
}
## Commenting out the following line allows ToS to automatically assign a color for each instance.
## Uncomment if you want to set a preset color for each instance.
#LinReg.setDefaultColor(GetColor(1));
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