Linear Regression Channel (Log)

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The Linear Regression Channel (Log) indicator is a modified version of the Linear Regression channel available on TradingView. It is designed to be used on a logarithmic scale, providing a different perspective on price movements.

The indicator utilizes the concept of linear regression to visualize the overall price trend in a specific section of the chart. The central line represents the linear regression calculation, while the upper and lower lines indicate a certain number of standard deviations away from the central line. These bands serve as support and resistance levels, and when prices remain outside the channel for an extended period, a potential reversal may be anticipated.

I have replaced the Pearson values with trend strength levels to enhance understanding for individuals unfamiliar with Pearson correlation.

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Alerts added

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New Short Title

١٤ أبريل

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Minor update