I have been trying to work through the LR problem using your BEL LR Channels Workspace.

I wanted to disconnect from the Date Marker so I replaced its block with “Add Days” block using “BarChart End Date” and “Parameter: Whole Number”. Although this appeared to work at first it caused some confusion in that the chart did not reflect the correct LR start date; -19 days had to be used to get a 15 day setback. The “Add Days” block uses calendar days not the number of bars. Problems: The blocks definition should state “calendar days” to avoid confusion for most of us who think in terms of bars. Secondly there is no block for “Add Bars” to obtain a date relative to the end date/bar, i.e., date output as opposed to the “Date and Bar” series output of the “Bar Offset Block”.

I then attempted to insert a “Bar Offset” block between the “BarChart Price History 2” and “Linear Regression Trendline” blocks with a “Parameter: Whole Number” input (set at 15). Doing this results in the Trendline to change its slope and be in error but it does set the Trendline start date back 15 bars as noted when the “Optional: Regression Date” input to the “Linear Regression Trendline” block is eliminated. Can you explain what is going on here since it does seem to be a logical setup?

It was also noted that the LR Channel deviation varied as the date pointer was moved so attention was directed to the:

I first changed the “Value For Date” block input from the date indicator to the “Add Days” block arrangement as indicated above for the “Linear Regression Trendline.2 Block diagram”. This fixed the channel deviation changes caused by the date bar. However if the Integer input to the “Add Days” block causes the output date to be a weekend day the LR Bands disappear! Either the integer would have to be adjusted whenever the LR Bands disappeared, the blocks code would have to be modified, or a Bar Count block with date output would have to be coded. In addition, weather the “Value For Date” date input comes from either the “Bar Chart End Date” block or the “Add Days” block the LR Channel line values and deviation do not line up with those in TeleCharts. This may be partly but not totally the result of the Log Scale dilemma.

Furthermore, I do not understand the definitions for either of the “Value for Date” and “Output Constant Single” blocks. Please elaborate on the definitions and terms of these two blocks.

On the left hand side of the diagram where it shows the inputs to the “Standard Deviation” block it seems to me that the standard deviation is being calculated for the last 50 days of the bar chart. I tried to insert a “Bar Offset” block (with a -15 integer input) to set the SD inputs to the agree with the 50 period and 15 bar offset of the LR line and channel. This results in no channel being shown on the chart. This is true for all negative inputs to the “Bar Offset” block, however positive (that is future as I understand it) inputs do result in the LR Channel being displayed but certainly not correct, and a “0” input results in the same LR Channel display as when the “BarChart Price History 2” is connected to the SD block instead of the “Bar Offset” block output. None of this makes sense to me so where is my thinking going wrong or is there a problem with the blocks coding or the diagram somewhere or what? Help please?

I may not understand your definition, calculation, and use of SD here as compared to that which is evident in the TeleCharts development. For example in TeleCharts a band setting of 30 just clips the top(s) or bottom(s) of the price excursions during the LR period which would indicate that the “30” setting is the 3-sigma value of the maximum excursion of price relative to the LR Trendline depending on weather that maximum excursion is above or below the LR Trendline, i.e., the absolute value of the excursion. The Blocks definition for the “SD” block is “Provides a Standard Deviation for the period provided” which leads the user to wonder whether this means 1-sigma or what, although the LR Channel depictured on the chart would seem to indicate a value near 3-sigma or simply the maximum deviation as opposed to a “standard” deviation. In the Worden Knowledge Base the best definition is given as “Standard Deviation is the root mean square of the distance of a set of points from the mean of those points” and is easy to understand but does not seem to fit the chart display without some multiplier. Please enlighten me.

I would like to know how you set up the extension and setback even without resolution for the Log scale presentation. I find that the LR Channel is still useful in all but the charts with the greatest gradient.