[RS]Linear Regression Bull and Bear Power V0
EXPERIMENTAL:
Bull and Bear power based on linear regression (this is a non lagging oscillator, the parameter are for the lookup window for the donchian extremes)
this indicator can also be used for convergence/divergence.
Bull and Bear power based on linear regression (this is a non lagging oscillator, the parameter are for the lookup window for the donchian extremes)
this indicator can also be used for convergence/divergence.
//@version=2
study(title='[RS]Linear Regression Bull and Bear Power V0', shorttitle='BBP', overlay=false)
window = input(title='Lookback Window:', type=integer, defval=10)
f_exp_lr(_height, _length)=>
_ret = _height + (_height/_length)
h_value = highest(close, window)
l_value = lowest(close, window)
h_bar = n-highestbars(close, window)
l_bar = n-lowestbars(close, window)
bear = 0-f_exp_lr(h_value-close, n-h_bar)
bull = 0+f_exp_lr(close-l_value, n-l_bar)
plot(title='Bear', series=bear, style=columns, color=maroon)
plot(title='Bull', series=bull, style=columns, color=green)