Regression Lines in Real Time - Charting Software

[friva 10]

Good morning,

 

can somebody help me on this ?

 

I need some software that can show and automatically update regression lines on price charts. I need to see the regression line and the 4 parallel lines that are +/- 1* or 2* standard deviation.

 

Bloomberg has a function like that but subscription is too expensive.

 

In Bloomberg I can:

* click under "annotations" (the grey bar on top of a chart);

* select "regression";

* click on the chart where I want the regression to start;

* move the cursor rightward while keeping pressed the mouse rightbutton to a point on the screen that is past where the last price is;

 

When I release the mouse button the system shows the regression line and other 4 lines that are +/- *1 and *2 times standard deviation.

What's important is that the regression lines keep adjusting to new data as new prices flow in.

 

Do you know other charting software that can do that ? Updates in real time would be ideal but also updating once per minute would do.

 

(Reuters' I checked. You can only draw regression line but: 1) they do not update with new prices; 2) the +/- standard deviation lines do not show up)

 

 

Bloomberg is good to analyse charts, in my view.

Any of you know / can recommend charting software that is comparable to Bloomberg's, in your opinion ?

 

Thanks a milion for your help

all the best

 

Franco

[shrike 10]

HI Frank

 

I use Multicharts, with it you can easly make it . and much more .

 

there are a lot of built in functions that allow to do all statistics and math studies.

 

Ciao

[friva 10]

Thank u Shrike, I will check that out

take care

[Tams 20]

Good morning,

 

can somebody help me on this ?

 

I need some software that can show and automatically update regression lines on price charts. I need to see the regression line and the 4 parallel lines that are +/- 1* or 2* standard deviation.

...Franco

 

pretty well any charting software can do it.

 

...TradeStation, MultiCharts, Ninja, AmiBroker, NeoTicker, just to name a few.

[UrmaBlume 10]

We put regression bands around indicators as well as price - as per the chart below.

 

We use various indications to determine bias and then trade these bands as discussed here

 

 

[friva 10]

Hi Tams, thank you for ur reply I will check those names.

 

Ninja does updates regression lines real time but:

 

a) it's a trailing regression period (ie last "x" periods). I need a fixed starting time, instead.

b) it shows 3 lines only (Lower, Middle, Upper). To see 5 lines for example one needs to runs simultaneously two regressions over the same period setting two different width parameter.

 

Multichart's helpline just confirmed they do update automatically and the regressions can either be drawn manually or programmed with PowerLanguage.

 

Thank you again

 

Franco

[Tams 20]

Hi Tams, thank you for ur reply I will check those names.

 

Ninja does updates regression lines real time but:

 

a) it's a trailing regression period (ie last "x" periods). I need a fixed starting time, instead.

b) it shows 3 lines only (Lower, Middle, Upper). To see 5 lines for example one needs to runs simultaneously two regressions over the same period setting two different width parameter.

 

Multichart's helpline just confirmed they do update automatically and the regressions can either be drawn manually or programmed with PowerLanguage.

 

Thank you again

 

Franco

 

any programmable charting software can be configured to do the analysis anyway you want, including Ninja.

 

you can see some MultiCharts charting examples here:

 

http://www.traderslaboratory.com/forums/f46/xcap_ipolycycle-7072.html

35.62

 

http://www.traderslaboratory.com/forums/f46/xcap-ipolyfit-7039.html

46.80

[friva 10]

thank you Tams, although that looks a bit beyond my capacity for me now it definitely provides good map signs.

 

For now I am looking to find a program that alows me to click on the chart (ie select the start of the regression period), move the mouse rightward and get regression lines that update in real time.

Please note that the start of the regression period must be fixed, ie I am not looking for a regression performed over the last "x" periods.

 

Among the names u named which one u think does that and is easy to use ?

 

Franco

[friva 10]

UrmaBlume, thank you for the hint

[andypap 10]

there is a drag and drop auto regression channel with various inputs as

how to calculate the parallel lines ( atr,standdard dev,stand error etc) for free

at hightick.com (mark sandiego is the author if i remember well) .

 

tradestation and multicharts compatible...

 

you only move the centeline once you initially set the indicator to whichever bar in the chart and the LRC adjusts it self...

you can repeat this any time you want as new data comes in...

[friva 10]

andypap,

 

thank you for your post,

 

The "a user interactive linear regression channel indicator" on hightick.com looks like what I am looking for for now, and I definitely need to give it a try.

 

thank u again

[Tams 20]

William Rafter's Miving Trend is based on regression line.

 

you can get the code here:

 

http://www.traderslaboratory.com/forums/f46/moving-trend-6563.html

 

 

230.135

[friva 10]

thank you Tams, I really appreciate u posted several times.

The info you provide will be very useful when I'll try to automate my trading (a smart thing to do, smarter than I am for now)

[Tams 20]

...

Among the names u named which one u think does that and is easy to use ?

 

Franco

 

The choice of software is a very personal one;

each has its own strengths, and quarks.

Most of the programs have free trials... you can test them out at your leisure.

 

Ninja is free... you can use it for as long as you like.

The only time you pay is if you use it to autotrade.

 

TradeStation is free if you use them as a broker.

 

MultiCharts, etc., has a 30 days trial.

 

 

If you do not have a programming background,

I would suggest you to stay with EasyLanguage compatible programs.

Edited July 9, 2010 by Tams

[friva 10]

makes sense, thank you Tams

[LS_Chad 10]

This video demonstrates how to implement the functionality you're looking for in Investor/RT:

 

Regression with Standard Deviation Bands

[friva 10]

LS-Chad,

thank you

Franco