FOREX TRADING COACHES - LINEAR REGRESSION

Linear Regression

Metatrader does not ship with a linear regression indicator, and a reliable one is not available.  Forex 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.

Parameters

(Click here for more info about parameters)

LRPeriods=4
shift=1
showAlert=false
bollingerPeriod=10
bollingerDeviation=2.0

	

showAlert

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.