Bollinger Bands Regression Forecast [BigBeluga]

🔵 OVERVIEW
The Bollinger Bands Regression Forecast [BigBeluga] combines volatility envelopes from Bollinger Bands with a linear regression-based projection model.
It visualizes both current and future price zones by extrapolating the Bollinger channel forward in time, giving traders a statistical forecast of probable support and resistance behavior.

🔵 CONCEPTS

• Classic Bollinger Bands use a moving average (basis) and standard deviation (deviation) to form dynamic envelopes around price.
  
• This indicator enhances them with linear regression slope detection, allowing it to forecast how the band may expand or contract in the future.
  
• Regression is applied to both the band’s basis and deviation components to predict their trajectory for a user-defined number of Forecast Bars.
  
• The resulting forecast creates a smoothed, funnel-shaped projection that dynamically adapts to volatility.
  
• ▲ and ▼ markers highlight potential mean reversion points when price crosses the outer bounds of the bands.
  

🔵 FEATURES

• Forecast Engine: Uses linear regression to project Bollinger Band movement into the future.
  
• Dynamic Channel Width: Adapts standard deviation and slope for realistic volatility modeling.
  
• Auto-Labeled Levels: Displays live upper and lower forecast values for quick reference.
  
• Cross Signals: Marks potential overbought and oversold zones with ▲/▼ signals when price exits the band.
  
• Trend-Adaptive Basis Color: Basis line automatically switches color to represent short-term trend direction.
  
• Customizable Colors and Widths for complete visual control.
  

🔵 HOW TO USE

• Apply the indicator to visualize both current Bollinger structure and its forward projection.
  
• Use ▲/▼ breakout markers to identify short-term reversals or volatility shifts.
  
• When price consistently rides the upper band forecast, the trend is strong and likely continuing.
  
• When regression shows narrowing bands ahead, expect a volatility contraction or consolidation period.
  
• For range traders, outer projected bands can be used as potential mean reversion entry points.
  
• Combine with volume or momentum filters to confirm whether breakouts are genuine or fading.
  

🔵 CONCLUSION
Bollinger Bands Regression Forecast [BigBeluga] transforms classic Bollinger analysis into a predictive forecasting model.
By merging volatility dynamics with regression-based extrapolation, it provides traders with a forward-looking visualization of likely price boundaries — revealing not only where volatility is but also where it’s heading next.