R Squared

R Squared is part of Standard Error Bands by Jon Anderson, Stocks and Commodities Mag. 09/1996. This study should be used with Standard Error PercentA, Linear Regression Slope and Bollinger Bands®. The user may change the input (close) and period lengths. This indicator’s definition is further expressed in the condensed code given in the calculation below.

How To Trade Using R Squared

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Go to the top menu, choose Study>Oscillators>Rsquared

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Calculation

//input = price, user defined, default is close
//period1 = user defined, default is 21
//period2 = user defined, default is 3
//index = current bar number

r = newCoeffR(index, period1, input);
sqR = r * r;
Plot: avSqR = sma(index, period2, sqR);