Metatrader does not ship
with a linear regression indicator, and a reliable one is not available.
Trading Coaches developed a linear regression indicator and tested it against
both the linear regression indicators of other charting packages and directly
against the linear regression functions of Microsoft Excel to assure its
accuracy. Below is a chart with the Bollinger and linear regression indicators.
If set to true,
then an alert will sound when the linear regression line crosses the
upper or lower bollinger band. This cross is dependent upon the
bollingerPeriod and bollingerDeviation set in this indicator -- it is
unaware of the bollinger band indicator that is actually on the chart.
If you change the default bollinger configurations on the bollinger
indicator and you want to use this cross alert, you must change the
bollingerPeriod and bollingerDeviation in this indicator to match the
same settings in your bollinger band indicator on the chart.