UT Bot + LinReg Candles (Dual Sensitivity)

The UT Bot + LinReg Candles (Dual Sensitivity) indicator provides a comprehensive trend-following toolkit by merging highly adjustable UT Bot signal logic with Linear Regression candle smoothing. This combination allows traders to capture trend momentum while filtering out market noise through independent sensitivity settings for buy and sell signals.

Usage

The Usage section describes how the script can be used to identify market direction and potential entry or exit points.

UT Bot Dual Sensitivity

The script features independent controls for Buy and Sell signals. This is particularly useful in trending markets where a "fast" entry and "slow" exit (or vice versa) may be preferred.

• Example Setting (Trend Reversals): For assets like USD/JPY on a 5-minute chart, setting a higher Buy ATR Period (e.g., 300) with a low multiplier (e.g., 1) and a very low Sell ATR Period (e.g., 1) with a higher multiplier (e.g., 2) can help isolate specific trend-based cycles.

Linear Regression Candles

By enabling the LinReg feature, the standard chart candles are replaced with values derived from linear regression. This smooths out price action, making it easier to visualize the primary trend.

• Signal Line: An optional smoothing line (SMA or EMA) can be applied to the LinReg candles. Crossovers between the candle close and this signal line often indicate shifts in short-term momentum.

Longevity Zones and S/R

The tool automatically plots supply and demand "Longevity Zones" based on recent pivot highs and lows. These zones remain on the chart until they are "broken" by price, serving as dynamic areas of support and resistance.

Details

The indicator is built upon the core logic of the UT Bot Alerts by QuantNomad and Linear Regression Candles by Ugurvu. Unlike many smoothed candle indicators, this script performs all calculations on standard price data rather than Heikin Ashi, ensuring that the signals correspond to actual tradable prices.

The "Dual Sensitivity" aspect is handled through two separate Average True Range (ATR) calculation engines. This allows the user to define different volatility thresholds for bullish and bearish regimes. Additionally, the script includes a multi-timeframe EMA trend dashboard and an ATR-based volatility gauge to provide broader market context.

Settings

UT Bot Settings

• Buy Sensitivity (Multiplier): Adjusts the distance of the buy trailing stop; higher values result in fewer, more conservative signals.
• Buy ATR Period: The lookback period for volatility calculation for buy signals. Set to 0 to disable.
• Sell Sensitivity (Multiplier): Adjusts the distance of the sell trailing stop.
• Sell ATR Period: The lookback period for volatility calculation for sell signals. Set to 0 to disable.
• Show Trailing Lines: Toggles the visibility of the internal trailing stop lines for both Buy and Sell logic.

LinReg Settings

• Use LinReg: Toggles the linear regression candle smoothing on or off.
• Linear Regression Length: Sets the lookback period for the regression calculation.
• Signal Smoothing: Adjusts the period for the signal line.
• Simple MA (Signal Line): When checked, uses an SMA for the signal line; otherwise, uses an EMA.

Longevity Zones & S/R

• Show Longevity Zones: Toggles the supply/demand zones.
• Longevity Length: The pivot lookback used to define new zones.
• Show Support & Resistance Lines: Displays horizontal levels based on historical price action.

Dashboard & Oscillators

• Dashboard Panel: Toggles the informational display.
• Dashboard Placement: Moves the panel to different corners of the chart.
• MACD/Stochastic Settings: Internal parameters used for trend confirmation within the dashboard.

FAQ

How do I adjust the sensitivity of the buy and sell labels? You can independently adjust the "Multiplier" and "ATR Period" in the UT Bot section of the settings. A higher multiplier will make the signals less sensitive to price fluctuations.

What is the benefit of using Linear Regression candles? Linear Regression candles filter out "noise" and minor price retracements, allowing you to stay in a trend longer by focusing on the mathematical trajectory of price rather than individual candle volatility.

How can I access the UT Bot + LinReg Candles (Dual Sensitivity) tool? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.