Technical Studies Reference
Linear Regression End Channel
The Linear Regression End Channel study calculates and draws a linear regression line across the specified bars at the end of the chart and a surrounding channel the specified number of standard deviations away from the linear regression line.
- Input Data
- Number of Bars: The number of bars from the last bar in the chart to calculate and draw the Linear Regression line and channel lines across. This does not apply if Use Start Date/Time instead of Number of Bars is set to Yes.
- Number of Deviations: The standard deviation multiplier for the surrounding channel lines.
- Use Start Date/Time instead of Number of Bars: When this Input is set to Yes, the study will begin from the Start Date and Time Input.
- Start Date and Time: If the Use Start Date/Time instead of Number of Bars Input is set to Yes, the study will begin from this Input. If the Start Date and Time are too far away from the end of the chart, the study will only draw lines for the last 5000 bars.
- Calculate on Bar Close: When this Input is set to Yes, then the last bar in the chart is not included in the calculations. This gives the Linear Regression End Channel greater stability.
When this Input is set to No, the last bar is included in the calculation and the lines are continuously updated as the last bar changes.
When you are comparing the Linear Regression End Channel to a manually drawn Linear Regression channel using the drawing tool, the Chart Drawing does not recalculate with bar updates. Therefore, it is a snapshot in time and may not continue to match.
When this Input is set to Yes, and you compare it to a Linear Regression Chart Drawing drawn across the same bars, there will be a match and continue to be a match as the chart bars are updated.
When comparing to a Linear Regression Chart Drawing, to ensure you have a match, you may need to uncheck Chart Settings >> Advanced Settings >> Adjust Tool Values to Tick Size before using the Linear Regression drawing tool.
*Last modified Friday, 21st April, 2017.