NY, NY
Posts: 68 since Dec 2011
Thanks Given: 27
Thanks Received: 19
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Hello,
Is it possible to use thinkscript to simply find the slope of the Linear Regression Channel (LinearRegCh100) and use it in a scan? I've searched all over with no luck...
Essentially, I'm interested in creating a condition to determine the slope so I can filter out undesirable results within a larger scan. If I understand correctly, a positive slope would indicate an uptrend and a negative slope would indicate a downtrend. I know I'm stating the obvious, but I'm hoping to clearly state what I'm looking for...
The LinearRegressionSlope and LinearRegTrendline studies sound like they should potentially address the issue, at least in name. However, in the case of the LinearRegressionSlope study, it doesn't appear to provide/expose any parameters to use to build a condition in the desired scan. Besides, I do not want yet another study plotted on a lower pane...
As for the LinearRegTrendline study, while it plots the middle LinearRegCh100 line, it lacks the upper and lower plots. Since I require the upper and lower plots for mean reversion purposes, the LinearRegTrendline won't work. It also doesn't appear to provide/expose any parameters to use to build a condition in the desired scan...
UPDATE: Further searching yielded the following:
https://tlc.thinkorswim.com/center/release/rel-07-12-2014.html
Unfortunately, if I understand correctly, this enhancement appears to only apply to user-defined drawings. Plus, I don't want to draw on the price chart. This information would only be used within a scan...
With that said, it is encouraging to know the metadata is captured. The question remains: Can thinkScript access the metadata?
Any thoughts/insights? Thanks in advance...
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