Dynamic Adaptive Regression Bands

This script provides a dynamic adaptive regression band indicator that adjusts based on recent market volatility. The regression bands are calculated using a length parameter adapted to the ATR (Average True Range) to ensure responsiveness to market conditions.

Key Features:

• Dynamic Length Adjustment: The length of the regression calculation is adjusted based on the ATR to reflect current market volatility.
  Multiple Bands: The script plots upper and lower bands at different ratios (1.618, 2.618, and 4.236) to provide comprehensive support and resistance levels.
  Detailed Fillings: The areas between bands are filled with different colors to visualize different levels of volatility and trend strength.
  

Usage:

• Regression Line: The main regression line follows the general trend of the price.
  Upper/Lower Bands: These bands represent volatility-adjusted support and resistance levels.
  Extended Bands: Additional bands at different ratios provide extended support and resistance zones for further trend analysis.
  

Original Script Credit:
This script is inspired by the original "Regr Linear Bands" script by MarcoValente, published on Jan 15, 2017. The original script starts from a linear regression and uses Fibonacci parameters to add bands above and below. The original work incorporates range and volatility, making the price move between bands of the same color. The middle line (linear regression) serves as a good signal; after a break occurs, the price typically moves to the last or second last band.