The channel indicator plots a linear regression channel. First the indicator draws a trend line between two dots, then on its basis plots a channel of two parallel lines, which will be located at the same distance from the regression line. The distance to the regression line depends on the value of the maximum deviation of the closing price from the average line. If the price reaches the channel boundary or, which is better, crosses it, then the trend reversal is incoming.
The indicator proved itself best on the higher timeframes.
MT4 Indicators – Download Instructions
Regression Сhannel is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Regression Сhannel 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 Regression Сhannel.mq4?
- Download Regression Сhannel.mq4
- Copy Regression Сhannel.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 Regression Сhannel.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Regression Сhannel.mq4 is available on your Chart
How to remove Regression Сhannel.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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