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@Silver Dragon
Itīs interesting that you mentioned the std. deviation channels. Not many chart softwares have them included.
I tried them for future trading. I know tos has them and tradingview (member created indicator). May i ask which software you are using
for them?
Just curious since I see sloping std channel in charts posted here, generally its from open or some sort of pivot point from where I'm measuring it. Resulting in horizontal lines and not sloped ones.
Iīm using Motivewave. MW has regression channels with standard deviations. I set it up to use 1000 bars backwards to create the regression channel.
Itīs really amazing, not only for futures but also for stocks (5min, 1 min for daytrading).
The most programms i know donīt offer auto standard deviations channels. I know TOS, Motivewave and now tasty works.
Tasty works was created by the guys who also created TOS in the past.
Thatīs great. Did you publish your code on tradingview? I found something similar and use it with tradingview.
But i am glad MW has such a tool on board because i canīt trade with tradingview because it doesnīt connect to IB.
MW does it. I put all regression lines on a chart with different colors and created a layout.
I set up 100 bars to calculate the regression lines on the one minute chart and 999 on the 5 minute but still trying to find the best setups.
Do you have a recommendation for the bar lenght to calculate the regression lines?
Some only trade with order flow but i still prefer the standard charting with regression.
I've checked inbuilt regression channel code on TV, it seems to be doing same, its regression line +/- 2 stdev channel, settings are adjustable. So I'm saved on effort of coding one from scratch. If you are interested you can check that one also, if you want to modify how stdev is calculated in it, you can simply swap that part of the code. However, I don't see any need for it,
I've not used regression channel enough to comment on recommendation but this is going to be highly subjective. I feel 100 is fairly decent length for it so far.
I've been looking through TV and have found many Regression Channel options. Which one was the one that you found most closely resembled the one Silver Dragon is using on his chart? The built-in option only seems to give one line for STD on the upper and lower, however that line can be adjusted to which STD you want.
I was looking for one that has multiple lines, one for 2nd STD, another for 3rd STD etc.