Linear Regression Drag-Drop,custom deviations & gridOverview
This indicator lets you draw a precise linear regression channel between any two points in time that you choose — simply drag two time anchors onto the chart. Unlike PulseWire's built-in regression tool, which is locked to a fixed lookback, this script gives you full manual control over the exact start and end of the regression window, plus a deviation-based channel, an optional mirrored grid, and a live stats table to help you judge the quality of the fit.
How It Works
Two draggable time anchors. You place a Start Time and an End Time directly on the chart. The script finds the bars closest to each timestamp and runs a least-squares linear regression on price between them.
Deviation channel . Around the regression line, the script plots four deviation bands (1x–4x). You can choose how the deviation is calculated:
StdDev — the statistical standard error of the residuals (how far price actually strayed from the line).
Points (Pips) — a fixed pip value you define, useful when you want consistent, comparable band widths across different sessions or instruments rather than a value that changes with volatility.
Grid. A second set of lines can be drawn as a mirror image of the regression channel, anchored at the end point. You can choose:
Mirror Lines — the mirror slopes in the opposite direction, useful for spotting counter-trend zones.
Zero Slope — the mirror is flattened to horizontal, useful for marking flat reaction levels.
None — hide the mirror set entirely.
A vertical shift input lets you offset the whole mirrored grid up or down by a multiple of the deviation, so it doesn't have to originate from the same anchor point as the main channel.
Fill and time markers . The area between the deviation bands is shaded, and vertical lines mark your two chosen times, so the exact regression window is always visible at a glance.
Stats table. A table (position and appearance configurable) shows:
Slope (%/day) — the trend's daily rate of change, normalized as a percentage of the starting price, so it's comparable across instruments and timeframes.
R² — how well the straight line actually fits price over that window (color-coded green/yellow/red).
Deviation — shown directly in pips.
Bars — the number of bars in the regression window.
How To Use
Drag the Start Time and End Time anchors onto the swing points, session boundaries, or range you want to analyze. The information table is there to help you judge whether a setup is high-probability before you act on it — not every regression window is worth trading, and the table is your filter:
Deviation tends to fit best on AUD/USD and EUR/USD when the pip size is set to a multiple of 10. Other currency pairs (JPY pairs, for example) will usually need a different pip size to get a well-scaled channel — adjust to taste per instrument.
Slope (%/day) gives you a quick read on trend strength: roughly 0.15% = a slow trend, 0.5% = a moderate trend, 1%+ = a steep trend. Use this as a guide for how aggressively price is moving through the window, not as a hard rule.
R² is helps quality check. A high R² means price tracked the line cleanly (more reliable for directional/continuation reads); a low R² means the window was choppy and the line is describing a range rather than a trend (better suited to mean-reversion reads at the deviation bands).
Grid mode adds a second dimension to your analysis: use Mirror Lines to project counter-trend/reversal zones, and Zero Slope to mark horizontal reaction levels. Combined with the ability to freely drag your time anchors to any two points on the chart, this turns the indicator into a fast, repeatable way to test different swing points and see how price is likely to react at the resulting grid levels.
Like any regression-based tool, its usefulness comes from context and repetition. The more windows and instruments you test it against, the better your feel for which slope/R²/deviation combinations mark genuinely high-probability points versus noise — the power of this indicator unfolds with practice.
Notes
This tool describes historical price behavior over a chosen window; it does not predict future price with certainty. Always combine it with your own risk management and additional confluence.
Deviation bands are descriptive statistics, not guaranteed support/resistance — treat penetrations of the outer bands as information, not automatic signals.
Indicator
Drop's Opening Range Breakout (ORB)Overview
Drop's Opening Range Breakout (DORB) is an institutional-grade intraday trading strategy built on classical Opening Range Breakout principles, but heavily upgraded with professional quant risk management and entry filters.
While standard ORB strategies suffer from high slippage, fakeouts, and afternoon chop, DORB solves these issues using a pullback limit-order mechanism, macro daily trend alignment, and dynamic risk parity sizing.
This strategy is shared 100% free for the community to study, backtest, and utilize.
🧠 Core Strategy Logic
The strategy operates on a strict schedule to capture the high-momentum morning volatility while avoiding low-liquidity periods:
Opening Range Definition (09:30 - 09:45 EST): The high and low boundaries of the first 15 minutes of the New York session are locked in.
Trading Execution Window (09:45 - 11:30 EST): Breakout trades are triggered during this period when price breaks through the opening range boundaries.
Hard Time Cutoff (11:30 EST): Any active position is forcefully closed. This prevents the strategy from holding positions during lunch hours and the afternoon chop, locking in morning gains.
🚀 Quant-Grade Enhancements
To elevate this strategy from a simple retail indicator to a robust algorithmic model, the following upgrades are built in:
Pullback Limit Entry (Anti-Slippage): Chasing breakouts with market orders is a primary cause of slippage and trading losses. When enabled, this feature rests a Limit Order exactly at the range boundary (Range High for Longs, Range Low for Shorts) once a breakout is detected. Price must pull back to fill the order, ensuring a high-quality average entry price and avoiding fakeouts.
Macro Daily Trend Alignment: To avoid trading against institutional momentum, the strategy references the Daily 200 EMA. It only executes Long breakouts if the daily close is above the 200 EMA, and Short breakouts if below.
Quant Risk Parity (Dynamic Position Sizing): Sizes the contract/share volume dynamically based on a fixed percentage of account equity (e.g., risking exactly 1.0% per trade) relative to the stop loss distance.
Opening Range ATR Filter: Filters out trades if the opening range is abnormally wide (meaning momentum is already exhausted) or abnormally narrow (meaning it's a choppy, range-bound day).
Volume Expansion Filter: Requires the breakout candle's volume to exceed a rolling 20-period average volume by a user-defined multiplier, confirming institutional interest in the breakout.
Flexible Stop Loss Options: Features a "Range Midpoint Stop" option which places the Stop Loss at the 50% mark of the opening range for a tight risk profile, or opposite-side range placement for a wider stop.
Automatic Breakeven (Auto-BE): Once price reaches a 1:1 risk-to-reward ratio, the stop loss is automatically trailed to the entry price to lock in a risk-free trade.
📊 Backtest Performance & Key Metrics
Below is the performance summary of the strategy during its latest backtest run:
Backtest Period: April 5, 2026 – May 28, 2026
Total Profit/Loss: +$11,887.50 (+11.89%)
Profit Factor: 3.456 (An exceptional ratio showing high efficiency and quality wins)
Win Rate: 68.42% (13 wins out of 19 total trades)
Max Drawdown: $1,862.50 (A very conservative 1.76% of account equity)
Expected Payoff: $581.45 per trade
Sharpe Ratio: 0.343 (unannualized/raw short-term calculation)
⚙️ Settings & Configuration Guide
Timeframes: Intraday charts only (recommended: 5m, 10m, 15m).
Session Definitions: By default, configured for the New York equities session (Range: 0930-0945, Execution: 0945-1130, Cutoff: 1130). If trading other sessions or time zones, adjust the hours accordingly.
Risk Management: For professional testing, enable Use Dynamic Risk Sizing and configure your Risk Per Trade (% of Equity) alongside your target Risk-to-Reward Ratio (default is 1.0).
Disclaimer: This script is an analytical and backtesting tool. Past performance is not indicative of future results. Trading carries substantial risk of loss. Always perform your own due diligence before executing trades with real capital.
Strategy
Rally Base Drop Signals [LuxAlgo]The Rally Base Drop indicator is built around the Supply and Demand (SND) concept known as "Rally, Base & Drop" Candles. These candle types are commonly used in this trading approach to identify price structure.
This indicator highlights bars by labeling them as "Rally," "Drop," or "Base" candles. It also identifies specific sequence patterns formed by these candles.
🔶 USAGE
The Rally, Base, Drop candlestick approach is a straightforward method for identifying price action structure.
Candles are categorized into three types, which are then analyzed to understand market structure and Supply/Demand levels.
Rally: Two or more consecutive bullish candles.
Drop: Two or more consecutive bearish candles.
Base: A single bullish or bearish candle that breaks the previous trend.
🔹 Rally & Drop Candles
These candles show clear directional momentum and signal whether demand or supply is dominating. They are helpful when identifying trends, as they highlight strong price movement.
🔹 Base Candles
In most SND strategies, "Base" can have several interpretations.
Typically, base candles represent short periods of consolidation that test the trend before continuation. They can also be found at turning points (tops or bottoms).
For this indicator, a base candle is simply one that does not follow the direction of nearby candles or is where a Drop and Rally meet. Multiple base candles often reflect indecision in the market, suggesting a temporary balance between buyers and sellers.
🔹 Reversal Sequences
Rally-Base-Drop (RBD)
Drop-Base-Rally (DBR)
In Supply and Demand analysis, these sequences are considered reversals. They mark zones where buyer and seller activity has shifted, which can lead to future price reactions. These areas are known as "Supply or Demand Zones" and are often revisited by price, making them useful for trade setups.
🔹 Continuation Sequences
Rally-Base-Rally (RBR)
Drop-Base-Drop (DBD)
Continuation sequences show a brief pause in the trend, followed by further movement in the same direction. In SND terms, they represent zones where orders accumulate before a continuation move. These are typically used to join ongoing trends, as they indicate sustained interest from buyers or sellers.
🔶 DETAILS
🔹 Color Modes
The script includes three color modes. "No Color" is self-explanatory, while the other two options relate to how candles are detected.
A Rally or Drop requires at least two candles to be successfully identified. As a result, detection occurs on the second candle. However, the full Rally or Drop includes both candles.
Two coloring methods are available:
Full Color: Once a Rally or Drop is detected (on the second bar), both candles are colored, starting from the first. This reflects the full pattern.
Color on Detection: Only the second candle (where detection occurs) is colored. This avoids changing past bars and may be useful for live analysis.
🔶 SETTINGS
Sequences: Select which sequences to display on the chart.
Bar Color Logic: Choose the preferred bar coloring method.
Indicator
Identify Rally, Base & Drop CandleThis Pine Script indicator identifies and labels rally, base, and drop candles on your chart, aiding traders in recognizing key price action phases. Rally candles represent periods of upward price momentum, typically characterized by strong bullish movement. Base candles indicate consolidation or sideways movement, suggesting a temporary pause in the trend. Drop candles signify downward price momentum, often accompanied by strong bearish movement. By identifying these distinct candle types, traders can gain insights into the market's current phase and potential future price movements.
Key Features:
Identifies rally, base, and drop candles based on customizable criteria such as body percentage.
Labels each candle type for easy visualization and interpretation.
Helps traders identify trend continuation or potential reversal points.
Compatible with various timeframes and trading instruments.
Customizable parameters allow traders to adjust the sensitivity of the identification process to suit their trading strategies.
Usage Instructions:
Apply the indicator to your chart.
Configure the settings according to your preferences
Observe the labeled candles on the chart to identify rally, base, and drop phases.
Consider additional analysis and risk management strategies to confirm trading decisions and manage risk effectively.
Disclaimer: This indicator is provided for informational and educational purposes only. It is not intended as financial advice or trading recommendations. Trading involves risks, and it's essential to conduct thorough research and practice proper risk management techniques.
Indicator
Incomplete Session Candle - Incomplete Timeframe Candle Marker The "Incomplete Session Candle - Incomplete Timeframe Candle Marker" is an advanced tool tailored for technical analysts who understand the importance of accurate timeframes in their charting. While the indicator is not limited to the Indian market, its genesis is rooted in the nuances of trading sessions like those in India, which span 375 minutes from 9:15 AM to 3:30 PM.
Key Features:
Detects if the current timeframe is intraday (minutes or hours).
Calculates the expected duration of the candle for the chosen timeframe.
Highlights candles that don't achieve their expected session duration by placing a cross shape above the bar.
Compatible across various intraday timeframes, aiding traders in spotting discrepancies promptly.
Why We Made This: Not Just for India:
While we looked at the Indian market, this indicator works everywhere. Regular timeframes like 30 minutes, 1 hour, and 2 hours often end with incomplete candles, especially at the end of the trading day. For example:
A 30-minute timeframe makes 13 candles, but the last one is only 15 minutes long.
A 1-hour timeframe shows 7 candles, but the last one is just the last 15 minutes.
By switching to different timeframes like 25 minutes, 75 minutes, and 125 minutes, you get more complete information for better trading decisions. Learn more about this in our article: "Power of 25, 75, and 125-Minute Timeframes in the Indian Market", recognized by Trading View's Editors' Pick.
Benefits:
The indicator extends its benefits even to users without access to certain timeframes. It accommodates traders using a 1-hour timeframe (pertaining to Indian traders). By employing this indicator, traders consistently remain mindful of incomplete candles within their chosen timeframe
For those who utilize concepts like RBR, RBD, DBR, and DBD, this indicator is paramount. An incomplete candle can skew analysis, leading to potential misinterpretations of base or leg candles.
Final thoughts:
In markets like the Indian stock market, adopting such a tool is not just beneficial, but necessary. Whether you have access to unconventional timeframes or are using traditional ones, recognizing and accounting for the limitations of incomplete candles is critical & it's important to know if your candles fit the timeframe properly. This indicator gives you a better view of the market, which helps you make smarter trades.
Lastly, Thank you for your support! Your likes & comments. If you want to give any feedback then you can give in comment section.
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