The Linear Regression Forex indicator for mt4 (Metatrader 4) draws the linear regression channel on the chart and reveals the prevailing market trend.
The indicator gets displayed in the main MT4 chart window and consists of the 3 upper gray colored channel lines, 3 lower gray colored channel lines, and the middle yellow colored linear regression line.
Buy & Sell Trade Example
- Open a buy trade when the price touches the lower gray channel line and the Linear Regression channel is sloping up.
- Open a sell trade when the price touches the upper gray channel line 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.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The example chart below displays the Linear Regression 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 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.
Download Now
Download the “Linear_Regression.mq4” indicator for Metatrader 4
