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Standard Error Indicator

Standard Error measures how closely prices congregate around a linear regression line.  The closer prices are to the linear regression line, the higher the r-squared value and the stronger the trend.  Typically, the larger the error the less reliable the trend as the price has greater variance around the Linear Regression line, prices are volatile.  Conversely, the smaller the error, the more reliable the trend.

See Also

Standard Error Developer Help

Standard Error Channel (Lower)

Standard Error Channel (Upper)

Linear Regression Trendline