stockfetcher 975 posts msg #96300 
9/16/2010 1:00:28 PM
RSquared 
  Parameters  Indicator
Period
 Usage  RSquared(close,45)
RSquared(MA(10),50)
  Description  RSquared is a statistical measure of how closely values match the linear regression trend line for a data series. In conjunction with the linear regression slope or "slope of" function, the RSquared can help ascertain the strength of the trend.
For example, the filter below provides matches that may be showing a strong 45 day uptrend:
Below is another example, that looks for strong downtrends based on a shortterm moving average:
The RSquared value ranges between 0 and 1. Higher values indicate stronger trends (either positive or negative.)
 
