MVV_LinearRegression - MetaTrader 5 Script - MT4/MT5 Resources
Standard linear regression channel with support and resistance levels. If we tie the starting point of the channel to the highest price, then for every new lowest price the channel will be redrawn. If the minimum value is not updated within five bars, the indicator draws a price tag that will become a strong support level after breaking out of the channel. The opposite is true for an ascending channel.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on May 20, 2008.
Figure 1. MVV_LinearRegression indicator
Attachment download
📎 mvv_linearregression.mq5 (11.95 KB)
Source: MQL5 #1718
MVV_LinearRegression - MetaTrader 5 script usage and filtering suggestions
MVV_LinearRegression - MetaTrader 5 script is a resource related to Forex indicators. 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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