R-Squared_v1 - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
R-Squared is a linear regression indicator. Although this indicator looks like an oscillator, it is necessary to understand the "reliability" of its calculation of the current trend.
The R-Squared indicator appears in MetaStock's MetaTrader 4. Therefore, you can find the main description of its work in this terminal. It should be noted that the higher the value of the R-Squared indicator, the more likely it is that the new trend will be statistically significant. Depending on the period, the trend's critical power level decreases.
Figure 1 R-Squared_v1 indicator
Attachment download
📎 r-squared_v1.mq5 (8.46 KB)
Source: MQL5 #1494
R-Squared_v1 - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
R-Squared_v1 - MetaTrader 5 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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