XR-Squared indicator uses linear regression to determine the presence or absence of a market trend.
XR-Squared line itself together with two levels for trend and flat market are displayed on a chart. Indicator values are set in the range from 0 to 100. When the indicator falls below 30, the market is considered to be flat, and when the indicator rises above 70, a trend is considered to be present. With the development of a trend the XR-Squared line rises from the non-trend up to trend levels. When the market reaches a top and retracement starts, the indicator falls again.
The higher the value of XR-squared, 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
XR-squared is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
XR-squared provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
How to install XR-squared.mq5?
- Download XR-squared.mq5
- Copy XR-squared.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 XR-squared.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator XR-squared.mq5 is available on your Chart
How to remove XR-squared.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: