Simple Slope, Linear Regression Slope

[Apprentice]

Slope

Bar Version

Simple Slope.lua

Simple Slope

(1.59 KiB) Downloaded 1405 times

Linear Regression Slope.lua

Linear Regression Slope

(2.28 KiB) Downloaded 1598 times

Tick Versions

LRS.lua

(2.26 KiB) Downloaded 1214 times

SS.lua

(1.58 KiB) Downloaded 1004 times

The indicator was revised and updated

[michaelwen]

yes, it is works this time. thanks a lots!

[Sub7th]

hi Apprentice

The Linear regression slope needs a MA of the indicator itself to act as a signal line. This signal line could be chosen by the trader of his choice. either 5, 10 or whatever periods. Can you add this option to your indicator ?

Also I am looking for something similar to be added over RSI.

Thank you in advance.

[Apprentice]

I will take this request under consideration.
However, we can not add this addon for every indicator.
Users can easily apply a moving average of their choice.

[rhodia16]

hi Apprentice

The Linear regression slope needs a MA of the indicator itself to act as a signal line. This signal line could be chosen by the trader of his choice. either 5, 10 or whatever periods. Can you add this option to your indicator ?

Also I am looking for something similar to be added over RSI.

Thank you in advance.

Hi Sub7th,

If you use the indicator called "Averages" that is downloadable from this site, what is your intending is probably possible.

In "Averages", choose "zeroLagEMA" as the Method, set the period to 3, and in the Data Source tab, choose the line of your interest of the indicator (e.g. Linear Regression Slope or RSI) already loaded. ColorMode and Style options are up to your preference. This can, in most cases, add colours to lines of indicators and oscillators. You become able to change colours depending on the direction of the line (e.g. lines can be green when ascending and red when descending etc.).

If you use "EMA" or whatever instead of "zerolagEMA", you can have a signal line of your preference quite flexibly.

If my understanding of your intention is wrong, I am sorry. I only hope this helps!

Rhodia

[Sub7th]

Thanks Rhodia,

Sorry I didn't see your reply except now. I thought this forum sends a notification when a reply is posted, And yes this is what I wanted.

I needed to ask what is the difference between Linear regression slope and simple slope. I mean as inner calculation structure or main idea.

Also FXCM platform is missing a lot of tools. Such as Fibonacci projection and Andrew's pitchfork extra parallel rays to its upper and lower boundaries. Is there a way for traders to download such tools for the platform?

Thank again to everyone.
K. Zaben

[Apprentice]

Linear regression slope and simple slope using a different approach.

Simple slope takes into account the difference between the current period and the period of n periods ago.
Linear regression attempts to adjust the slope, regression line, so that best fits all the data points in the same perodu.

[Sub7th]

Hi Apprentice,

So I understand that simple slope compares linear value of today to linear value of n-periods ago. Because it sounds like momentum indicator except that momentum = close price (today) - close price (n-periods ago) . Is this true?

I am interested in your work, so forgive me for my questions.

Thanks for your quick response.
K. Zaben

[Apprentice]

Something like it, but not quite.
slope=(close[period]-source.close[period-frame])/(period-(period-frame));

[Sub7th]

Thanks Apprentice.