Introduction to the Linear Regression Channel Breakout Indicator
The Linear Regression Channel Breakout Indicator draws mini Linear Regression Channels and when a breakout occurs, it marks the signal with an arrow. Note that these channels are really short-term, hence you will get a lot of them placed on the chart.
The Linear Regression Channel Breakout Indicator fits all kinds of timeframes and currency pairs. It is displayed directly on the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Linear Regression Channel Breakout indicator in MetaTrader (MT4)?
Download the Linear Regression Channel Breakout.rar archive at the bottom of this post, unpack it, then copy and paste the Linear Regression Channel Breakout.ex4 or Linear Regression Channel Breakout.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Linear Regression Channel Breakout indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 Linear Regression Channel Breakout Indicator
To download the Linear Regression Channel Breakout Indicator for Metatrader 4 (MT4) for free just click the button below: