The Linear Regression Slope(LRSlope) is designed to show how much one should expect prices to change per unit of time.
As the LRSlope of a trend first becomes significantly positive, open a long position. Either sell or open a short position as the LRSlopebecomes significantly negative.
For information on more ways to use the LRSlope and combining with R-Squared values please refer to The New Technical Trader by Tushar Chande and Stanley Kroll.
Calculation:
avg(Price)= Average price value
avg(bar)= Average period
Inputs:
Price Field = Close
Indicates Open, High, Low or Closing price.
Period = 14
Indicates time period(the number of days for daily analysis, the number of weeks for weekly analysis, etc.).
Indicator Type: Momentum, Trend