Linear Regression Sketcher Shows Fit and Trend Rate of Change
Summary
The Linear Regression Sketcher extends a basic regression indicator by drawing corresponding regression lines alongside the regression value. These lines are intended to show the fit and trend at the current time and price. The description proposes reading both the regression value and its rate of change to assess the trend, rather than relying on the regression value alone.
The lines are drawn as chart objects, so multiple instances on one chart require a distinct identifier for each instance. The note does not explain the calculation settings, give examples, or report tested trading results. It describes a way to visualize regression fit and its changing direction, but provides no evidence that the added display improves forecasts or trade decisions.
Key ideas
- The indicator draws regression lines alongside the linear regression value.
- It aims to show both the fit and the trend at a given time and price.
- The described interpretation considers the regression value and its rate of change.
- Each chart instance needs a unique identifier when multiple copies are used.
- No calculation settings or performance evidence are supplied.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.