A line y=ax+b can be drawn through a set of points, and the distance from each point to the line will be approximately balanced.
To plot the HighLine and LowLine lines it uses the set of High and Low points, respectively, for the MyPeriod period.
If the CalculateDeflection parameter is enabled, then two more lines – HighDeflection and LowDeflection are placed on the chart. They display the possible price variation (mean square error). The hidden line b shows the value of the free variable in the line equation.
The MLS-HL4-Angle indicator calculates the value of a in points and indicates the inclination angle of the obtained line to the horizon.
The indicator displays the value of the initial price b and the rate of change of angle p relative to the tangent. If p>0, then the curve a turns left, so the angle tends to positive values. However, if p<0, then the curve a tries to turn right and tends the angle to negative values The MLS.zip archive contains the math of calculation using the least squares method. MT4 Indicators – Download Instructions
Channel Angle is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Channel Angle 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 Channel Angle.mq4?
- Download Channel Angle.mq4
- Copy Channel Angle.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Channel Angle.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Channel Angle.mq4 is available on your Chart
How to remove Channel Angle.mq4 from your Metatrader 4 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
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MT4 Indicators Download here: Channel Angle