The advanced Linear Regression Forex Channel indicator for mt4 (Metatrader 4) is a 7-line trend channel used to predict future market trends.
The indicator gets displayed in the main MT4 chart window and consists of the 3 upper channel lines, 3 lower channel lines, and the middle linear regression line.
Buy & Sell Trade Example
- Open a buy trade whenever price touches the lower red channel line from above and the Linear Regression channel is sloping up.
- Open a sell trade whenever price touches the upper red channel line from below and the Linear Regression channel is sloping down.
- Take profit at the opposite channel line.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “linear regression channel.ex4” indicator for MT4
Indicator Chart (EUR/USD M15)
The example chart below displays the Linear Regression Forex Channel mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy to trade with the Linear Regression Forex Channel indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Regression Channel
Does the indicator repaint? No.
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Download the “linear regression channel.ex4” indicator for Metatrader 4
