The Priestley–Chao estimator is a non-parametric derivative estimator related to kernel smoothing, but it is specifically used when the goal is to estimate changes in a function, rather than just its level.

Unlike the Nadaraya–Watson estimator, it does not aim to predict the value of the function
f(x) directly, but rather focuses on changes in the function’s behavior — for example, its derivative, which indicates upward or downward trends.

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First version yet, give it some time to play, default settings itself has nothing to do what it does do, there is reasonable lot of custom add-on inputs to play with. Post pictures and your templates, it will get much more advanced yet.

Basically you have 2 different degrees, 2 different oscillators in the same indicator box.

One target is "computational calculation" of divergence is in a sawtooth pattern using a kernel function, by comparing different kernel values and kernel regression, weighting sample points that lie outside the volume of the three regressions in a curative manner. This reveals the divergence between inspections through lateral sawtooth pruning if drawing it with like heatmap. The output is currently plotted using the Gaussian kernel function with Priestley-Chao regression. A Gasser-Müller nonlinear regression engine will also be added. If we for instance look Indian NiftyIndex we can see reversal in advance to come before price does.

Same opposite, when wavetheory is drawing & printing consolidation patterns, we can close it off fully ie. flat seasons.

ZigZag wrote: Thu May 08, 2025 9:38 pm First version yet, give it some time to play, default settings itself has nothing to do what it does do, there is reasonable lot of custom add-on inputs to play with. Post pictures and your templates, it will get much more advanced yet.

Basically you have 2 different degrees, 2 different oscillators in the same indicator box.

What's the on-chart indicator being used to color the candles green and red?

TransparentTrader wrote: Fri May 09, 2025 12:48 am What's the on-chart indicator being used to color the candles green and red?

It is called non-linear Trump Regression.

Attatched.