Tweet
Linear Regression / Standard Deviation Bands ???
I'm new to eSignal and having trouble understanding how to use the Formula Wizard to create an indicator that I'd like to plot on my price charts.
It probably already exists but I don't know where to find what I think might be called either Linear Regression or Standard Deviation Bands.
Basically what I want is a continuous "fixed" plot of the the Upper, Lower and Middle Linear Regression Lines based on some period variable and StdDev variable.
So instead of straight lines that constantly adjust as new bars are added, the value at the end of the current bar would be ploted and remain fixed. As each new value is added by subsequent bars the bands would be drawn in the same way a moving average is ploted on a price chart.
In addition I'd like to create a study, below the price chart, that plots 2 lines (again based on the Linear Regression Period and StdDev varriables).
The 1st line would be the relation of the HIGH to the Upper Value with 0 being the Middle LinReg value. So for example if the price bar high were half way between the Middle LinReg and the Upper LinReg it would plot at 50 representing 50%. If the high came in 3/4 of the distance to the Lower LinReg from the middle it would plot -75 representing minus 75%.
The 2nd line would be similar to the 1st but it would be the the relation of the LOW from the middle to either the Upper or Lower LinReg.
Plots above 100% or below -100% would be allowed and be representative of an extreme High or Low that was outside the calculated LinReg for that bar.
I hope someone can help me with this.
Thanks.
It probably already exists but I don't know where to find what I think might be called either Linear Regression or Standard Deviation Bands.
Basically what I want is a continuous "fixed" plot of the the Upper, Lower and Middle Linear Regression Lines based on some period variable and StdDev variable.
So instead of straight lines that constantly adjust as new bars are added, the value at the end of the current bar would be ploted and remain fixed. As each new value is added by subsequent bars the bands would be drawn in the same way a moving average is ploted on a price chart.
In addition I'd like to create a study, below the price chart, that plots 2 lines (again based on the Linear Regression Period and StdDev varriables).
The 1st line would be the relation of the HIGH to the Upper Value with 0 being the Middle LinReg value. So for example if the price bar high were half way between the Middle LinReg and the Upper LinReg it would plot at 50 representing 50%. If the high came in 3/4 of the distance to the Lower LinReg from the middle it would plot -75 representing minus 75%.
The 2nd line would be similar to the 1st but it would be the the relation of the LOW from the middle to either the Upper or Lower LinReg.
Plots above 100% or below -100% would be allowed and be representative of an extreme High or Low that was outside the calculated LinReg for that bar.
I hope someone can help me with this.
Thanks.