LR Bands for Think Or Swim

I've been reading some of the discussions lately on the TTM forum about different types of reversion to the mean stock strategies. One strategy I've been playing around with a bit was suggested by John Carter and expanded upon by Gary_P on the forum. The basic idea is that you buy on pullbacks to the +/- 1 or 2 Std Deviations from the linear regression curve . He was kind enough to provide some Tradestation snippets and I have gone ahead and translated them to TOS for your charting pleasure. Enjoy.

So in the example above, You would have entered on 11/29 at 1168 ~ 1175. Your target would have been 1230 with a stop at 1120 or so. Did I make this trade? No. I had my entry a couple of points too low. C'est La Vive.

#hint:atbLR Bands\nThis script plots the historical values of the Linear Regression channel. A big thanks to the TS code written by Garp_P\n

#hint Length: Length of Channel
#hint NumDevs: Width of Channel in Stdevs.

input Length = 38;
input NumDevs = 2.0;

def SDev = stdev(close,Length) * NumDevs;
plot LR = Inertia(close, Length);

LR.SetDefaultColor(Color.Green);

plot UpperBand = LR + SDev;
UpperBand.SetDefaultColor(Color.Cyan);
UpperBand.SetLineWeight(2);

plot LowerBand = LR - SDev;
LowerBand.SetDefaultColor(Color.Cyan);
LowerBand.SetLineWeight(2);