stockfetcher
980 posts
msg #96300 |
9/16/2010 1:00:28 PM
| R-Squared |
|  | | Parameters | Indicator
Period
| | Usage | RSquared(close,45)
RSquared(MA(10),50)
| | | Description | R-Squared is a statistical measure of how closely values match the linear regression trend line for a data series. In conjunction with the linear regression slope or "slope of" function, the R-Squared can help ascertain the strength of the trend.
For example, the filter below provides matches that may be showing a strong 45 day uptrend:
Below is another example, that looks for strong down-trends based on a short-term moving average:
The RSquared value ranges between 0 and 1. Higher values indicate stronger trends (either positive or negative.)
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