PTZ Linear Regression Channel Indicator

This indicator helps you visualize the trend and potential reversal points by plotting a linear regression channel on your price chart. It includes customizable bands based on standard deviations.
Features:

• Linear Regression Line: Plots the main regression line based on the specified period.
• Customizable Period: Adjust the number of bars used for the calculation to fine-tune the regression line.
• Standard Deviation Bands: Includes two customizable bands that represent standard deviations from the main regression line, aiding in identifying overbought or oversold conditions.
• Color and Width Customization: Personalize the appearance of the regression line and bands with customizable colors and line widths.

Parameters:

• Period: Number of bars used for the linear regression calculation.
• Band 1 Std Devs: Standard deviations for the first band.
• Band 1 Enabled: Option to enable or disable the first band.
• Band 2 Std Devs: Standard deviations for the second band.
• Band 2 Enabled: Option to enable or disable the second band.
• Main Line Color: Color of the main regression line.
• Main Line Width: Width of the main regression line.
• Band 1 Color: Color of the first band lines.
• Band 1 Width: Width of the first band lines.
• Band 2 Color: Color of the second band lines.
• Band 2 Width: Width of the second band lines..

Usage: The PTZ Linear Regression Channel Indicator is easy to use and highly customizable, making it suitable for traders of all levels. Whether you are looking to identify trends, potential reversal points, or overbought/oversold conditions, this indicator provides the visual tools necessary for effective technical analysis.