Auto Trend Projection

Auto Trend Projection is an indicator designed to automatically project the short-term trend based on historical price data. It utilizes a dynamic calculation method to determine the slope of the linear regression line, which represents the trend direction. The indicator takes into account multiple length inputs and calculates the deviation and Pearson's R values for each length.

Using the highest Pearson's R value, Auto Trend Projection identifies the optimal length for the trend projection. This ensures that the projected trend aligns closely with the historical price data.

The indicator visually displays the projected trend using trendlines. These trendlines extend into the future, providing a visual representation of the potential price movement in the short term. The color and style of the trendlines can be customized according to user preferences.

Auto Trend Projection simplifies the process of trend analysis by automating the projection of short-term trends. Traders and investors can use this indicator to gain insights into potential price movements and make informed trading decisions.

Please note that Auto Trend Projection is not a standalone trading strategy but a tool to assist in trend analysis. It is recommended to combine it with other technical analysis tools and indicators for comprehensive market analysis.

Overall, Auto Trend Projection offers a convenient and automated approach to projecting short-term trends, empowering traders with valuable insights into the potential price direction.

릴리즈 노트

I have added a table to display the Auto-Selected Length and Projection Confidence.

오픈 소스 스크립트

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

For quick access on a chart, add this script to your favorites — learn more here.