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Date/Time: Sun, 21 Oct 2018 13:45:36 +0000

Linear regression tool

Support Request:
[2017-12-05 05:49:05]
User99934 - Posts: 219
Could you please add a functionality to the linear regression tool so there is a separate linear regression calculation for the highs and a separate linear regression calculation for the lows at the same time? On small numbers of bars, this would be more accurate.
[2017-12-12 01:03:14]
User99934 - Posts: 219
When using the linear regression tool on one of the selected modes, it snaps back to the open mode when trying to extend the channel forward when grabbing the middle circle of the last endpoint. It should stay in the last mode selected.
[2017-12-12 01:04:53]
User99934 - Posts: 219
Please add separate linear regression calculation for the highs and a separate linear regression calculation for the lows at the same time so I don't have to keep on switching between highs and lows when this could easily be one command.
[2017-12-12 04:24:53]
Sierra Chart Engineering - Posts: 65036
Do you mean draw 2 linear regression lines? One for the highs and one for the lows? This may not be so simple.
Sierra Chart Support - Engineering Level

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[2017-12-12 04:34:50]
User99934 - Posts: 219
Yes. In my opinion, on a limited number of bars, the range plays too large a factor in the calculation of the linear regression line. To get more accuracy, I believe you need two lines. That's why I click back and forth all the time for separate calculations for the highs and lows.
Date Time Of Last Edit: 2017-12-12 04:54:24
[2017-12-12 12:25:05]
Marmany - Posts: 180
Hi, I use regression channels frequently and was interested in your remark re calculation from Highs and Lows. Quickly put together these 3 studies that will draw channels from high, low and close.
Add them all to Sierra / Data folder.
Add Custom Studies Button 1 to control bar (or configure it as a Keyboard Shortcut)
Add studies to chart
Click channel start bar on chart, then click Button 1 (or Hot Key) and the 3 channels will draw to end of chart.
Will erase all channels if attempt made to draw a channel less than 6 bars in length.
Go to Study Settings / Subgraphs to identify or change each channel appearance.
Personally, from a brief examination, can not see benefit in high or low vs close.
Why do you find them more accurate?
Date Time Of Last Edit: 2017-12-12 12:26:16
attachmentRegChannel.dll - Attached On 2017-12-12 12:14:23 UTC - Size: 802 KB - 64 views
attachmentRegChannelHigh.dll - Attached On 2017-12-12 12:14:46 UTC - Size: 802 KB - 65 views
attachmentRegChannelLow.dll - Attached On 2017-12-12 12:15:04 UTC - Size: 802 KB - 53 views
[2017-12-12 15:07:29]
User99934 - Posts: 219
Hi Marmany,

Thank you for the DLLs. I will have to try them this evening.

I find that separate regression channels with the adjustable standard deviation settings calculated off either just highs or lows allows for better projections on short numbers of bars. Is there a way to eliminate the limitation of 6 bar requirement? The Sierra linear regression tool does not have this limitation. Is this a direct replacement of the Sierra linear regression tool? Thank you so much for your help!
[2017-12-12 15:36:40]
Marmany - Posts: 180
Linear regression is statistically the wrong tool to analyse a sample size of less than 6 (also the channel angle becomes over dependent on price movement in last bar) you really need at least 11 bars. A moving average has far more validity when length less than 6.
Over small bar ranges you really need to dig into intrabar price action to appreciate what the market is up to.
[2017-12-12 15:45:25]
User99934 - Posts: 219
Thank you for the insight. I use the number bars with volume profile display with diagonal dominant coloring to try to understand what is going on within a bar.
[2017-12-12 16:28:26]
User99934 - Posts: 219
Here is a sample of linear regression of highs projecting high just a few minutes ago. How would you do it with a moving average that you like?
Date Time Of Last Edit: 2017-12-12 16:29:56
imagelin reg.JPG / V - Attached On 2017-12-12 16:27:30 UTC - Size: 26.06 KB - 77 views

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