A standard linear regression channel with support and resistance levels. If we bind the start of the channel to the price maximum, then with each new price minimum the channel will be redrawn. If within five bars the minimum is not updated, the indicator draws a price tag, which, after breaking the channel, becomes a strong support level. And the opposite for an upward channel.
This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 20.05.2008.
MT5 Indicator – Download Instructions
MVV LinearRegression is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
MVV LinearRegression provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install MVV LinearRegression.mq5?
- Download MVV LinearRegression.mq5
- Copy MVV LinearRegression.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on MVV LinearRegression.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator MVV LinearRegression.mq5 is available on your Chart
How to remove MVV LinearRegression.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: