OPEN-SOURCE SCRIPT
Linear Regression, Volume Weighted
Updated
Produces deviation lines based upon linear regression of volume adjusted price with the option to clean the data of outliers.
The regression line is more accurate than standard linear regression as each data point is effectively a volume unit (share) and the total number of data points is the total volume from the beginning to end.
The regression line is more accurate than standard linear regression as each data point is effectively a volume unit (share) and the total number of data points is the total volume from the beginning to end.
Release Notes
Added optional recency bias and more configuration options.Release Notes
Fixed issue with lines not drawing at larger length values.Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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