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.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
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: