TTP ADB Oscillator Linear Regression Breakouts

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The TTP Oscillator Linear Regression Breakouts indicator identifies potential buy and sell signals based on linear regression channels applied to various oscillators like RSI (Relative Strength Index) and MFI (Money Flow Index). The indicator calculates a linear regression channel using a specified period and deviations to highlight potential breakout points. It offers options to visualize the channel and deviation bands on the chart, aiding in the identification of potential trading opportunities. Additionally, customizable parameters such as slope limits and maximum deviation help fine-tune the indicator to suit different trading strategies.

Inputs:

• Oscillator: Select the oscillator to use (RSI, MFI, or 'External' for any external oscillator).
  
• Period: Define the period for the linear regression channel.
  
• Deviation(s): Specify the width of the channel in terms of standard deviations from the central line.
  
• Extend: Choose whether to extend the channel to the right.
  
• Shift: Adjust to ignore recent candles for channel formation.
  
• Slope Limit: Set a threshold for slope to filter out signals.
  
• Max Deviation: Define the maximum deviation to filter out wider channels.
  

Display Options:

• Show Channel: Toggle to display the linear regression channel.
  
• Show Bands: Toggle to display deviation bands.
  

Signals:

• Buy Signal: Generated when the price crosses above the upper deviation band with a positive slope above the defined limit and deviation within the specified range.
  
• Sell Signal: Generated when the price crosses below the lower deviation band with a negative slope below the defined limit and deviation within the specified range.
  

Backtestable Stream:
This indicator provides a backtestable stream for buy and sell signals, enabling users to evaluate its performance historically.

Alerts:

• Buy Signal Alert: Receive alerts when a buy signal is generated.
  
• Sell Signal Alert: Receive alerts when a sell signal is generated.
  

Note:
This indicator can be customized and optimized to suit various trading styles and preferences. It's recommended to combine signals with additional analysis for confirmation before making trading decisions.

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