TrendLinearReg – indicator for MetaTrader 4

  • Platform: Metatrader4
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • Author: Watasi

    How a trend changes? How to determine a flat? How to trade? … etc. This indicator will help to answer these questions.

    If you assume that the trend within N bars is a straight line you can calculate the parameters of that line. You know the equation of the straight line from the school, it is y = bx + с. The inclination of the line is characterized by the “b” coefficient or tangent of the angle of slope. The indicator calculates this parameter using the linear regression on every bar and display it in a separate window. If the color is green it means that the value is greater than the previous one, i.e. the angle of slope increases, the red color means the opposite.

    In sober fact, the “b” coefficient in the context of the charts is formed by two coefficients: tangent of the angle of the line and the coefficient that characterizes the currency pair (probably Point), so the scale of the indicator is different on different currency pairs.

    How to use the indicator? I think there are several variants:

    1. crossing the zero line.

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    2. maximum value passage.

    3. if you determined a zone near the zero line then it is a flat and you can trade on a break through.

    If any one has the ideas of how to improve the indicator or how else it can be used I will appreciate.

  • How to install MT4 indicator?
  • 1. On the desktop, double-click to open the MT4 trading platform software you installed.
  • 2. Click on “File” – “Open Data Folder” in the upper left corner, double-click the MQL4 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT4, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window
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