Linear Regression Channel Indicator for MT4/MT5

Some traders prefer using linear regression to improve their understanding of the current market situation. Here you can download a free Linear Regression Channel indicator for MT4 and MT5.

What Is Linear Regression Channel Indicator?

Linear Regression Channel indicator for MetaTrader facilitates the creation of regression channels on the chart.

Through a series of calculations using specific math formulas, the indicator automatically creates the channel going back a given number of candles.

The created regression channel is then kept up-to-date as new data comes through.

A regression channel is one way of using linear regression in MetaTrader.

Why Use Linear Regression Channel Indicator?

Linear Regression Channel is one way of spotting the current trend in the market. Through a series of calculations, you can visualize a channel where the price fluctuated. If the channel points upwards, it means that there is an uptrend in the current timeframe. Conversely, if the channel points downwards, there is a downtrend.

A noteworthy effect is that, generally, the price tends to bounce off the upper or lower borders when the trend is continued.

You can find a regression channel among the standard MetaTrader chart objects and you can place one or several on the chart. However, the Linear Regression Channel indicator that you can download here is a more advanced tool — it automatically calculates and draws the channel given you parameters. The created channel then follows the new candles, updating itself automatically.

How to Use Regression Channel Indicator?

Once you download this indicator, you will be able select how many candles to use for the calculation of the channel and how many of the most recent bars not to consider. Its input parameters are really simple:

MT4 Installation Instructions

To install the MT4 Trading Session Time indicator, please follow the instructions below:

1. Download the indicator archive file.
2. Open the MetaTrader 4 data folder (via File->Open Data Folder).
3. Open the MQL4 Folder.
4. Copy all the folders from the archive directly to the MQL4 folder.
5. Restart MetaTrader 4 or refresh the indicators list by right-clicking the Navigator subwindow of the platform and choosing Refresh.

Or you can read a more detailed instruction on how to perform the installation.

MT5 Installation Instructions

To install the MT5 Trading Session Time indicator, please follow the instructions below:

1. Download the indicator archive file.
2. Open the MetaTrader 5 data folder (via File->Open Data Folder).
3. Open the MQL5 Folder.
4. Copy all the folders from the archive directly to the MQL5 folder.
5. Restart MetaTrader 5 or refresh the indicators list by right-clicking the Navigator subwindow of the platform and choosing Refresh.

Or you can read a more detailed instruction on how to perform the installation.