Polynomial Regression Channel Indicator ThinkorSwim TOS Script
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Polynomial Regression Channel Indicator ThinkorSwim TOS Script
Get Polynomial Regression Channel Indicator ThinkorSwim TOS Script on forextradingproduct.com
There are many discussions about these 2 indicators, Polynomial Regression Channel aka PRC and Center Of Gravity aka COG.
PRC stands for Polynomial Regression Channel. This is a regression indicator that is used on charts.
A linear regression indicator draws a straight line of best fit on a chart. The PRC indicator applies a polynomial function to the linear regression function to adapt itself to the flow of market prices. Since they are regression bands that self adjust for volatility.
COG stands for Center Of Gravity and is based on the cycle work of Hurst; they are Hurst bands. Hurst’s theory was all that instruments move in a cycle and this cycle will show up in highs and lows. Prices tend to regress toward the mean, which is represented by the blue center-line. The band above and below the center-line represent the sigmas of the actual data points from the mean center-line.
Both of them are originally created for MT4 as I believe, the algorithm and code of these 2 indicators are almost identical.
It uses array and loop to calculate matrix and get the result of the Polynomial Regression line, and then the standard error and deviation as the channels.
I couldn’t find any TOS version of this indicator on google, so I decide to make one.
The PRC and COG from MT4 can only plot fixed length chart, but my version can plot the length of max bar of current chart and adjust automatically.
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