Linear Regression Slope Indicator for MT4/MT5

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

What Is Linear Regression Slope Indicator?

Linear Regression Slope indicator for MetaTrader shows the slope of a regression channel.

Through a series of formulas, the indicator automatically calculates the a linear regression line. This line will almost always have some incline or decline — a slope.

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

Why Use Linear Regression Slope Indicator?

Linear Regression Slope is one of the ways top spot the current trend of the market. Other than trend detection, the slope can also show the momentum of the trend. If the histogram is above zero, generally, the price is in an uptrend. While the histogram is below zero, the price is in a downtrend.

Furthermore, if the slope is increasing in an uptrend, then the momentum is increasing. Conversely, if the slope is decreasing, there is a slowdown in the momentum. The opposite is true for downtrends.

How to Use Regression Slope 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 quite obvious:

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.