indicator · on price · open source
Linear Regression
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About
Linear Regression curve fits a straight line to the last N closes — the cleanest trend line you can draw programmatically.
- Price above the line = bullish bias, below = bearish bias.
- Touches of the line often act as dynamic support/resistance.
- Combine two regressions of different windows for a ribbon.
Source code
//@version=5
indicator("Linear Regression", overlay=true)
len = input.int(14, "Length", minval=2)
lrVal = ta.linreg(close, len, 0)
p_Linear_Reg = plot(lrVal, "Linear Reg", color=color.blue, linewidth=2)
alertcondition(ta.crossover(close, lrVal), "Price above regression", "Close crossed above the regression line")
alertcondition(ta.crossunder(close, lrVal), "Price below regression", "Close crossed below the regression line")
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