LRCxBB | Forex Indicator Download - MT4/MT5 Resources | MT4/MT5 Download - MetaTrader 5 Resources
The indicator this system was inspired by (Linear Regression Channel) exists only on TradingView. Both TradingView and the indicators are free, so feel free to try them out. I stumbled upon this indicator recently when I was looking at trends on TradingView. After extensive testing, I can confidently say that this is one of the most powerful indicators I have ever used and can honestly plug it into any system.
Linear Regression Channel by ChartPrime
The second indicator is Bollinger Bands with default settings. Due to the nature of market expansion and contraction, BB works well together.
The logic behind this system is simple. The LRC bar uses its own calculations to accurately signal us when the market diverges dangerously. BB is similar and helps measure volatility within the market. If the market is expanding, deviating heavily, but the LRC hasn't seen any signs of contraction yet, but the Bollinger Bands have... we can identify and get into the trend early before it starts to balance out. This is a disagreement between BB and LRC.
Long (HA variant):
The price has touched the lower BB line.
The candle before and after the BB touch is red (red comes in many shades, but it has to be the darkest shade)
Enter if the price remains red and a strong bullish candle (shadowless) has crossed the BB midline.
Aim for the upper BB.
Stop loss is determined by the trader.
If the price closes above the midline, wait until it touches the outer line of the channel again before entering the market.
Shorts just flip everything and the bar should be blue.
Use a time frame that allows you to at least cover the spread. Because we are targeting dynamic Bollinger Bands, the target may be small. This means that there is not much space between the signal line that closed above the midline and the outer band. If you find that your target points are too small to make meaningful profit trades on higher time frames, then the points between these targets will be richer.
Linear Regression Channel by ChartPrime
The second indicator is Bollinger Bands with default settings. Due to the nature of market expansion and contraction, BB works well together.
The logic behind this system is simple. The LRC bar uses its own calculations to accurately signal us when the market diverges dangerously. BB is similar and helps measure volatility within the market. If the market is expanding, deviating heavily, but the LRC hasn't seen any signs of contraction yet, but the Bollinger Bands have... we can identify and get into the trend early before it starts to balance out. This is a disagreement between BB and LRC.
Long (HA variant):
The price has touched the lower BB line.
The candle before and after the BB touch is red (red comes in many shades, but it has to be the darkest shade)
Enter if the price remains red and a strong bullish candle (shadowless) has crossed the BB midline.
Aim for the upper BB.
Stop loss is determined by the trader.
If the price closes above the midline, wait until it touches the outer line of the channel again before entering the market.
Shorts just flip everything and the bar should be blue.
Use a time frame that allows you to at least cover the spread. Because we are targeting dynamic Bollinger Bands, the target may be small. This means that there is not much space between the signal line that closed above the midline and the outer band. If you find that your target points are too small to make meaningful profit trades on higher time frames, then the points between these targets will be richer.
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