R - Squared

Type: User Function, Name: coeffRx

Inputs: Length(Numeric);
Vars: X(0), UpEQ(0), LowEQ1(0), LowEQ2(0), LowEQT(0);

X = BarNumber;
UpEQ = Summation(X * Close, Length) -
(Length * Average(X, Length) * Average(Close, Length));
LowEQ1 = Summation(Square(X), Length) -
(Length * Square(Average(X, Length)));
LowEQ2 = Summation(Square(Close), Length) -
(Length *Square(Average(Close, Length)));
LowEQT = SquareRoot(LowEQ1 * LowEQ2);

IF LowEQT <> 0 Then
CoeffRx = UpEQ / LowEQT;






Type: Indicator, Name: R - Squared

Inputs: Length(21), AvgLen(3);
Vars: R(0), SquareRx(0), AvgSqrR(0);

R = coeffR(Length);
SquareRx = Square(R);
AvgSqrR = Average(SquareRx, AvgLen);

Plot1(AvgSqrR, "AvgSqrR");
Plot2(1, "Upper");
Plot3(0, "Lower");