Linear Regression Line Indicator for MT4/MT5

Some traders prefer using linear regression to better understand the status of the current trend in the market. Here you can download free Linear Regression Line indicator for MT4 and MT5.

What Is Linear Regression Line Indicator?

Linear Regression Line indicator for MetaTrader is somewhat similar to a moving average but is a bit different.

Using math formulas from statistics, the indicator automatically creates a line from a linear regression.

Regression line closely follows the price similarly to what a regression channel object in MetaTrader would do.

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

Why Use Linear Regression Line Indicator?

Linear Regression Line is one of the methods to detect the current market trend. If the line is pointing upwards, it means that there is an uptrend currently in the chart's timeframe. Conversely, if the line is pointing downwards, there is a downtrend.

Usually, the price tends to come back to the line (mean-reversion).

You can see that the line is similar to a moving average, however, it is also different. The line follows the most recent point of the linear regression, so that instead of an average, it follows the price more accurately.

How to Use Regression Line 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 listed in the image below:

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.