Return Channel - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
Channel indicator plots a linear regression channel. First, the indicator draws a trendline between two points and then, based on this, draws a channel consisting of two parallel lines, which will be located at the same distance from the regression line. The distance to the regression line depends on the maximum deviation of the closing price from the average line. If the price reaches the channel boundary, or better yet, crosses the channel boundary, a trend reversal is imminent.
This indicator has proven itself best on higher time frames.
Attachment download
📎 regression_channel.mq4 (9.23 KB)
Source: MQL5 #13262
Return Channel - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Return Channel - MetaTrader 4 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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