Linear Regression

ICE Data Services -

upperLinearReg(), middleLinearReg(), lowerLinearReg() Built-in Study Functions

Linear Regression is a statistical tool used to predict future values from past values. In the case of security prices, it is commonly used to determine when prices are overextended. A linear regression trend line uses the least squares method to plot a straight line through prices so as to minimize the distances between the prices and resulting trend line.

Syntax
upperLinearReg(  nLength , nStdev [, Series | sym() | inv() ][, nBarIndex ] )
middleLinearReg( nLength , nStdev [, Series | sym() | inv() ][, nBarIndex ] )
lowerLinearReg(  nLength , nStdev [, Series | sym() | inv() ][, nBarIndex ] )

Parameters
Parameter: Description: Default:
nLength Required. Number of periods to use for calculation.

 

n/a nStdev Required. Number of standard deviations to use for calculation.

 

n/a Series or
sym() or
inv()
[Optional]   Series Object or function of sym() or inv() to determine symbol/interval source for the study.

 

Chart's sym/inv nBarIndex [Optional]  Bar index of series to retrieve.

 

n/a


Return Value(s)

Returns a Series Object when nBarIndex is not specified.

Returns a single value when nBarIndex is specified.


Notes
Only available in versions 7.9 or later.

Code Examples
Single Line Indicator:
function main() {    return new Array(upperLinearReg(20, 1),                       	          middleLinearReg(20, 1),                       	          lowerLinearReg(20, 1) );}

Single Line Study-on-Study Indicator:
function main() {    return new Array(upperLinearReg(20, 1, hl2()),                      middleLinearReg(20, 1, hl2()),                      lowerLinearReg(20, 1, hl2()) );}

Retrieve single values:
function main() {    var nValue_0 = middleLinearReg(20, 1, 0);  // Current Bar Index    var nValue_1 = middleLinearReg(20, 1, -1); // Prior Bar Index             return new Array(nValue_0, nValue_1);}

Initialize Series Objects:
//global Series Object variablesvar xStudy1 = null;var xStudy2 = null;var xStudy3 = null;function main() {    if (xStudy1 == null) xStudy1 = upperLinearReg(20, 1);    if (xStudy2 == null) xStudy2 = middleLinearReg(20, 1);    if (xStudy3 == null) xStudy3 = lowerLinearReg(20, 1);            // retrieve single values for conditional statements    var nValue1_0 = xStudy1.getValue(0);  // Current Bar Index value    var nValue2_0 = xStudy2.getValue(0);  // Current Bar Index value    var nValue3_0 = xStudy3.getValue(0);  // Current Bar Index value    var nValue1_1 = xStudy1.getValue(-1); // Prior Bar Index value        // Plot Current Bar Index Value        return new Array(nValue1_0, nValue2_0, nValue3_0);  }

Initialize a Series Object based on an external interval:
// global Series Object variablesvar xStudy1 = null;var xStudy2 = null;var xStudy3 = null;var bInit = false;  // Initialization flagfunction main() {    if (bInit == false) {        xStudy1 = upperLinearReg(20, 1, inv(20));   // 20-min interval        xStudy2 = middleLinearReg(20, 1, inv(20));  // 20-min interval        xStudy3 = lowerLinearReg(20, 1, inv(20));   // 20-min interval        bInit = true;    }            // retrieve single values for conditional statements    var nValue1_0 = xStudy1.getValue(0);  // Current Bar Index value    var nValue1_1 = xStudy1.getValue(-1); // Prior Bar Index value            // Synchronized Series plot    return new Array(getSeries(xStudy1),                     getSeries(xStudy2),                     getSeries(xStudy3) );  }


Initialize a Series Object based on an external symbol and interval:
// global Series Object variablesvar xStudy1 = null;var xStudy2 = null;var xStudy3 = null;var bInit = false;  // Initialization flagfunction main() {    if (bInit == false) {        xStudy1 = upperLinearReg(20, 1, sym("IBM,20"));   // IBM 20-min interval        xStudy2 = middleLinearReg(20, 1, sym("IBM,20"));  // IBM 20-min interval        xStudy3 = lowerLinearReg(20, 1, sym("IBM,20"));   // IBM 20-min interval        bInit = true;    }            // retrieve single values for conditional statements    var nValue1_0 = xStudy1.getValue(0);  // Current Bar Index value    var nValue1_1 = xStudy1.getValue(-1); // Prior Bar Index value            // Synchronized Series plot    return new Array(getSeries(xStudy1),                     getSeries(xStudy2),                     getSeries(xStudy3) );  }


See Also
Series Object
getSeries()
Built-in Study Functions
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