The Linear Regression indicator for Metatrader 5 is an oscillator type indicator that follows the trend for any currency pair.
The indicator appears in a bottom chart window as colored green & red bars that oscillate above and below the 0.00 level.
According to the indicator:
- Trend bars above the 0.00 level are bullish.
- Trend bars below the 0.00 level are bearish.
The Linear Regression Forex indicator tends to work better for shorter-term trade entries and exits.
Scalpers and day traders will benefit the most from it.
The following inputs can be edited: colors and style.
Make yourself familiar with this indicator and test it first on a demo account. It supports all time frames and Forex pairs.
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The following chart shows how the Linear Regression Forex Trend indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Linear Regression Forex Trend Indicator?
Find a simple trading example below:
- A buy signal occurs when the first trend bar goes back above the 0.00 level.
- Open a buy trade and place your stop loss below short-term support.
- Close the buy trade near resistance or round numbers.
- A sell signal occurs when the first trend bar goes back below the 0.00 level.
- Open a sell trade and place your stop loss above short-term resistance.
- Close the sell trade near support or round numbers.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the TrendLinearReg.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration