š” Linear Regression Channels and ZigZag Points š”
ā¢ The linear regression channels are recalculated and reset each time the price moves beyond the expected boundaries (bands), ensuring the measurement remains up-to-date with the marketās real trend.
ā¢ The marked points (circles) represent extremes (highs and lows) that serve as the basis for drawing the ZigZag and determining where the channels are calculated from.
ā¢ This dynamic approach allows for better visualization of potential trend changes, as well as areas of overextension or overselling where the price might revert toward the mean.
ā How do the channels relate to the ZigZag and the extreme points? ā
ā¢ Whenever a new extreme (high or low) is detected, the indicator not only plots a circle and the ZigZag line connecting that point to the previous one, but also readjusts the potential linear regression channel being drawn from that last extreme.
ā¢ If, during the following bars, the price remains within the bands, the channel stays active and extends to the current bar.
ā¢ If at any point the price breaks those bands, the indicator āassumesā the channel has been invalidated and starts a new one from the bar where the break occurred.
Ctrader Store indicators:
Dynamic Market Structure
Analysis of Turning Points
Fibonacci Linear
Regression Multi-timeframe
Multi-Level Candle Bias
Tracker
Auto Support and
Resistance Trend Lines
All Support and
Resistance Levels
Dynamic Market Structure Analysis of Turning Points
Fibonacci Linear Regression Multi-timeframe
Multi-Level Candle Bias Tracker
Auto Support and Resistance Trend Lines
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