This indicator was delivered by Alexei Kharchenko. He is describing the indicator in following words:
I am very thankful to the author of the i-Regr indicator for it’s outstanding performance. Addationally I made some modifications to it.
The green lines are the lines of the regression: the upper one is drawn by the High prices, the lower one – by the Low prices.
This indicator recalculates itself with the occurance of a new bar.
How to trade with the i-Regr H&L Channel of Regression?
- Look for buy opportunities when:
- There is an uptrend.
- The price is near or touching the lower channel band (yellow line).
- Look for sell opportunities when:
- There is an downtrend.
- The price is near or touching the upper channel band (yellow line).
How to install this indicator on your Metatrader 4 / 5 trading plaftform?
- Download the indicator by clicking “LINK” button at the bottom of this post.
- Copy and paste the i-Regr H&L Channel of Regression by High and Low Prices indicator files into following folder of your Metatrader 4 platform: MQL4 > Indicators.
- You can gain access to the folders this way: File > Open Data Folder > MQL4 > Indicators (paste files here).
- Restart your Metatrader 4 Client.
- Select Chart and Timeframe where you want to test the indicator
- Browse “Custom Indicators” in your Navigator that is located on the left in your Metatrader 4 platform.
- Right click on i-Regr H&L Channel of Regression by High and Low Prices.mq4 and than click “Attach to the chart”.
- You can modify settings if you need and than click ok.
- The indicator is ready and running on the chart.