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LinRegSlope

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Description

The Linear Regression Slope outputs the slope of the linear regression line, and is a measurement of the regression line’s “elevation”.

Interpretation

Simply put: in an uptrend, the elevation is positive and facing upwards. The opposite applies to downtrends. This indicator is not very useful for determining overbought or oversold areas, but can be used to measure the strength of a trend. It should be used in combination with other indicators to identify potential entries.

Usage

LinRegSlope(int period)
LinRegSlope(IDataSeries inSeries, int period)
LinRegSlope(int period)[int barsAgo]
LinRegSlope(IDataSeries inSeries, int period)[int barsAgo]

Return value

double
When using this method with an index (e.g. LinRegSlope(14)[int barsAgo] ), the value of the indicator will be issued for the referenced bar.

Parameters

inSeries Input data series for the indicator
period Number of bars included in the calculations

Visualization

LinRegSlope

Example

//Current value for the slope:
Print("The current value for the inclination of the linear regression line is: " + LinRegSlope(14)[0]);