Regression Line

 

Description:

The function uses the Least Squares method to determine best line to fit the series of points.

Parameters:

BarsBack Period over which to Calculate the Least Squares Regression

Arguments:

OHLC of TimeFrame or any outputIndicator of the TimeFrame

Output Indicators:

Slope
Constant

y = slope * x + constant

Example:

Study Name Expanded in a 3 minute timeframe:

I3_RegressionLine(5)(I3CloseI3)_I3

This study calculates the RegressionLine on the 3 minute timeframe, of the 3 minute close. The BarsBack interval is 5.

The output indicators names are appended to the studyname, that is if the studyname is sn1 then the outputindicator is

sn1::Slope
sn1::Constant

 

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