Colorful Regression

Colorful Regression is a trend indicator. The most important difference of it from other moving averages and regressions is that it can change color according to the momentum it has. so that users can have an idea about the direction, orientation and speed of the graph at the same time. This indicator contains 5 different colors. Black means extreme downtrend, red means downtrend, yellow means sideways trend, green means uptrend, and white means extremely uptrend. I recommend using it on the one hour chart. You can also use it in different time periods by changing the sensitivity settings.

版本注释:

alarm added.

The standard deviation has been added to make it suitable for different time periods, but it may still be good to manually adjust the colors for daily and higher timeframes.

linewidth added.

now more sensitive to extreme price movements.

版本注释:

added plotshape.

版本注释:

-we now use a special MA that gives a later but much more accurate signal. This function determines an average price by taking into account not only the candles before it, but also the candles after it. Although this causes us to receive signals late, we can prevent this delay with the momentum we use. We also understand momentum from colors. in other words, we can have an idea about both momentum and average price with a single indicator.
-the color changed, redder and greener colors are now used for extreme momentum.

版本注释:

offset fixed.

版本注释:

it now has a lot more color tones. I explained the changes in detail in the images:

版本注释:

The length limit has been increased to 1000.

版本注释:

Added contrast section. You can use it to soften or sharpen the color transition.

Improved "buy-sell signal". sample:

版本注释:

bugs fixed.

版本注释:

edit.

版本注释:

buy sell signal added again.

版本注释:

added label on price scale.