Registered User
Joined: 10/9/2007
Posts: 18
|
hello, i currentlt chart at THINKORSWIM and was wondering if it was possible to create a regression channel on the worden platform. they are like bollinger bands but are not based on volatility but on price but still measure std deviation +1 or +2 please advise thx s/d
|
Worden Trainer
Joined: 10/7/2004
Posts: 710
|
guru,
In the drawing Tools library, there is a Linear Regression Channel tool. Click on Drawing Tools, Click on Linear Regression Channel. Then draw the channel for the duration desired on the chart. Click on the center line and choose Edit to set the standard deviation,extensions, etc. Alternately, you can simply click and drag either of the outside channel lines and slide them to the desired standard deviation. (This is in version 12).
If you are using TeleChart 2007, simply right click on Price (in the price plot legend), choose Add Indicator, Choose Linear Regression. The channels will be added to price and the Edit box opens automatically to allow you to set Standard Deviation, etc. (Note, in TeleChart 2007, a standard deviation of 1 is noted in the width field as 10; a standard deviation of 2 is noted in the width field as 20; etc.)
|