The Regression Channel indicator is implemented as an overlay in Technician. It will calculate and display a linear regression basis line along with three standard deviation bands. The indicator can be set to display as a continuous plot or as a fixed regression channel, as seen in the images below. If the fixed channel is selected, you also have the option of shifting the the regression calculation back by a user-defined number of bars. Note that the offset will shift accordingly as new bars come in (i.e., if a 10-bar offset is selected then the offset will always be 10 bars back from the most current price bar).
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The formula in this indicator assumes fixed bar widths when performing its calculations. Because of this it will not plot correctly if used in a Volume Candle (a relatively new chart type in Technician that plots the candles in various widths depending upon the volume associated with that candle.) chart. |
Regression Bands displayed as a continuous plot.
Regression Bands displayed as a fixed regression channel.
To remove the indicator from the chart, or to edit any of the settings, move your cursor over any of the regression lines. A small dialog will appear indicating that you should right-click to manage. Right-click in your chart and the Edit/Delete dialog will now be displayed:
Click Edit to access the parameter menu or
click Delete to remove the overlay.
Click on the Edit button and the Regression Channel parameters dialog will be displayed. See the Settings section for a complete description of all of the available parameters.
Make your settings changes and then click on
the Create button to apply them to the overlay.
See Also:
