Linear Regression Slope (Actual)
Linear Regression Slope is useful for determining if a trend is strengthening or weakening.
This is a true calculation of linear regression slope rather than a numerical differentiation calculated by subtracting previous linear regression value from current linear regression value. TradingView does not include a linear regression slope formula, but the built-in formula for linear regression does include the offset parameter which multiplies linreg slope as shown below:
linreg(source, length, offset) -> linreg = intercept + slope * (length - 1 - offset)
So therefore we can calculate linreg slope by subtracting a linreg with offset 0 from a linreg with offset 1. Easy peasy :) Much cleaner and smoother than taking the difference between current linreg value and previous linreg value also.
This is a true calculation of linear regression slope rather than a numerical differentiation calculated by subtracting previous linear regression value from current linear regression value. TradingView does not include a linear regression slope formula, but the built-in formula for linear regression does include the offset parameter which multiplies linreg slope as shown below:
linreg(source, length, offset) -> linreg = intercept + slope * (length - 1 - offset)
So therefore we can calculate linreg slope by subtracting a linreg with offset 0 from a linreg with offset 1. Easy peasy :) Much cleaner and smoother than taking the difference between current linreg value and previous linreg value also.