A smooth non-normalized oscillator implemented in the form of a color histogram.
How does trend change? How to select flat? How to trade? … etc.
If we assume that the trend of N bars is a straight line, we can calculate the parameters of this line. Equation of the line is y = bx + c. The line slope is characterized by the “b” coefficient. The indicator calculates this parameter by linear regression for every bar and displays it in a separate window. Color green shows that the value that is greater than the previous one, i.e. the angle increases, the red means just the opposite.
In fact, in relation to charts, the “b” coefficient is derived from two factors – from the tangent of the angle line and the coefficient that characterizes the pair, so the scale of the indicator values is different for different pairs.
How to use the indicator? In my opinion, there are several options:
- Crossing the zero line;
- Touching the maximum value;
- If you set a certain area around the zero line as a flat, you can trade at the breakthrough of the zone.
MT5 Indicator – Download Instructions
TrendLinearReg is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
TrendLinearReg 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 TrendLinearReg.mq5?
- Download TrendLinearReg.mq5
- Copy TrendLinearReg.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 TrendLinearReg.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator TrendLinearReg.mq5 is available on your Chart
How to remove TrendLinearReg.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: