OPEN-SOURCE SCRIPT
已更新 Ultimate Trend Line
The "Ultimate Trend Line" indicator, designed for overlay on financial charts, calculates and plots a global trend line. It works by first allowing users to input several parameters such as different lengths for up to 21 groups, a multiplier that defines the deviation from the linear regression line for calculating the upper and lower bands, and a color for the fill.
Using these inputs, it calculates the upper and lower bands for each length group based on a multiple of the standard deviation from the linear regression line. It then averages these bands to define the global trend line, which is plotted on the graph.
Although the code includes commented-out lines for plotting each individual upper and lower band, the indicator as it stands only displays the overall average trend line. The line's color and linewidth can be adjusted according to user preferences.
This indicator can be effectively used on both logarithmic and linear scales. This versatility allows it to be adaptable to various types of financial charts and trading styles, providing a flexible tool for users to assess and visualize trend patterns across different market conditions and time frames. It maintains its accuracy and relevance, regardless of the scale used, thus making it a comprehensive solution for trend line analysis in diverse scenarios.
It's important to note that the "Ultimate Trend Line" indicator requires a substantial amount of historical data to function properly. If insufficient historical data is available, the indicator may not display accurately or at all. This issue is particularly prevalent when using larger time units, such as weekly or monthly charts, where the available data may not stretch back far enough to satisfy the requirements of the indicator. As such, users should ensure they are operating on a time scale and data set that provides adequate historical depth for the reliable operation of this indicator.
Using these inputs, it calculates the upper and lower bands for each length group based on a multiple of the standard deviation from the linear regression line. It then averages these bands to define the global trend line, which is plotted on the graph.
Although the code includes commented-out lines for plotting each individual upper and lower band, the indicator as it stands only displays the overall average trend line. The line's color and linewidth can be adjusted according to user preferences.
This indicator can be effectively used on both logarithmic and linear scales. This versatility allows it to be adaptable to various types of financial charts and trading styles, providing a flexible tool for users to assess and visualize trend patterns across different market conditions and time frames. It maintains its accuracy and relevance, regardless of the scale used, thus making it a comprehensive solution for trend line analysis in diverse scenarios.
It's important to note that the "Ultimate Trend Line" indicator requires a substantial amount of historical data to function properly. If insufficient historical data is available, the indicator may not display accurately or at all. This issue is particularly prevalent when using larger time units, such as weekly or monthly charts, where the available data may not stretch back far enough to satisfy the requirements of the indicator. As such, users should ensure they are operating on a time scale and data set that provides adequate historical depth for the reliable operation of this indicator.
版本注释
MTF option added版本注释
Use of the logarithmic scale版本注释
Minor Update开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
Plan the trade, trade the plan
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
Plan the trade, trade the plan
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。