Mels moving linear regression line

[KuJaX]

Hey,

I was curious what the expected date for "Mel's moving linear regression line" is to be completed so that I can get it installed in my Esignal? Last week they said "a couple of days".

[eSignal_JasonK]

Hello KuJaX,

The zip file below contains an installer that will install a customized layout called "MELRAIMAN." It will also install Mel's moving linear regression study, MR_MovLinReg.efs to the \eSignal\Formulas\Other folder. After running the installer, go to the Layout menu and select the "MELRAIMAN" layout. Here's a snapshot of what you will see.

MelR_installer.zip



Alternatively, if you just want to use the formula, right-click on an advanced chart, select Formulas-->Other-->MR_MovLinReg.efs. Or download the EFS study separately from the link below.

MR_MovLinReg.efs

The formula has several user-defined parameters that can be changed via the "Edit Studies" option, which is also on the right-click menu.

LR Periods - 23 (Periods for linear regression)
MA Periods - 4 (Periods for moving average)
MA Price Source - Close
MA Type - EXPONENTIAL
LR Thickness - 2 (Line thickness for LR)
MA Thickness - 2 (Line thickness for MA)
LR Color - Lime
MA Color - Red

Let me know if you have any questions.

[KuJaX]

JasonK,

Thank you very much. However, I have noticed a difference from this and DirectAccessElite when setup in there. I have e-mailed Mel Raiman about this, and he is aware that it is setup incorrectly.

Can't wait until the correct way we need this is setup so that us people that use eSignal can take advantage of Mels Platform!

[KuJaX]

JasonK

As stated before, this EFS is messed up. Not anything close to a moving linear regression line. I did some more searching and found a linreg.efs and loaded it up. It is very similar to DAE, which is what Mel has taught us on, but still a little different. I sure hope someone is working on this, along with Mel, because I am trying to lure people to eSignal and not DAE, but if we can't use eSignal successfully with this, there isnt any other choice other than DAE and Tradestation. So can you see what can be done to get this resolved? I am sure someone has Mel Raiman's e-mail address and/or contact DAE/Tradestation about their formula. Not really sure how that all works out. I've also noticed that the Regression Channels are slightly different too, even after customizing them.

[eSignal_JasonK]

Hello KuJaX,

We will be reviewing the layout and the study with Mel shortly. Once we have the proper instructions from Mel, we'll post an update. Stay tuned ....

[eSignal_JasonK]

Hello KuJax,

We have recently completed the changes for Mel's method. He is currently reviewing the new changes so there may be some additional modifications. We also have created a basic installer that will set up a basic layout for you, but you can also download the EFS formula separately. You can find everything you need here, Mel's Moving LR. Read the eSignal_Setup_MelR.doc for specific instructions.

[rmclean]

Jason,
Very nice work on providing the installer for Mel's layout. It worked perfectly. Thank you.

Do either you or Jason have any links for us to follow that will tell us how Mel uses this setup? What is he looking for with this (very neatly done) Moving LR?

What I have been able to find indicates that Mel does not like to trade NYSE stocks, yet he has authorized a Layout with 3 of the 4 stocks being NYSE stocks...?

Thank you, Bob

[eSignal_JasonK]

Hello Bob,

This installer was put together for Mel as a way to distribute his study with a basic layout to his clients who have attended his seminar. Understanding how to trade with his method requires some training from Mel. I'll try to get Mel to visit this thread and post some information for you.

[KuJaX]

Hey Jason.

You created an EFS for linear regression trend channel for Mel Raimen at + and - 1 standard deviation. Mel has since then talked about - and + 2 standard deviation. How would I go about getting that on my charts, as a different LIGHTER color? Thanks Jason!

[eSignal_JasonK]

Hello KuJax,

Here's version 2.0 with the second set of regression lines. The standard deviation value for both sets of regression lines can be modified through Edit Studies.

MR_MovLinReg2.efs.

[KuJaX]

JasonK,

Your awesome. Thanks a lot.

[feroz]

Jason,

I have downloaded your MR MovLinReg2.efs chart onto my computer, but do not know how to incorporate the 2 Stan.Deviation linear channel into my PTS charts. Could you please help me do this and my apologies if what I am asking is very basic.

Many thanks.

Feroz

[eSignal_JasonK]

Hello Feroz,

The EFS formula can only be applied to an Advanced Chart in the eSignal app. After downloading the file, save it to a folder inside \eSignal\Formulas. Then right click on the advanced chart, select the Formulas folder and click on the file name where you saved the file. Hope this helps.