The LSMA Auto Regression Channel indicator for mt4 (Metatrader 4) plots the auto regression channel on the chart.
The indicator gets displayed in the main MT4 chart window and consists of an upper channel line, a lower channel line, and a middle line.
Buy & Sell Trade Example
- Open a buy trade when price touches the lower red channel line and the LSMA Auto Regression Channel is trending up.
- Open a sell trade when price touches the upper gray channel line and the LSMA Auto Regression Channel is trending down.
- Take profit at the opposite channel line.
The indicator can be used as a standalone trading tool for both trade entries and exits.
It can also be used as an additional trend filter that works together with an existing trading strategy or system of your preference.
Free Download
Download the “LSMA_Line.mq4” indicator for MT4
Indicator Chart (EUR/USD M5)
The example chart below displays the LSMA Auto Regression 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 LSMA Auto Regression 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.
