R-Squared is the linear regression indicator. Despite the fact that the indicator looks like an oscillator it is necessary to understand that it calculates “reliability” of the current trend.
The R-Squared indicator appeared in MetaTrader 4 from MetaStock. Thus you can find the main description of its work in this terminal. It should be noted that the higher the value of R-Squared indicator, the more likely that a new trend is statistically important. Depending on the period, critical power level of a trend decreases.
MT5 Indicator – Download Instructions
R-Squared v1 is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
R-Squared v1 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 R-Squared v1.mq5?
- Download R-Squared v1.mq5
- Copy R-Squared v1.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 R-Squared v1.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator R-Squared v1.mq5 is available on your Chart
How to remove R-Squared v1.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: