MVV Linear Regression Indicator

MVV Linear Regression indicator uses in his work a standard linear regression channel and support and resistance levels. As well as indicating the price tags, which are strong support and resistance at breaking through the channel in one direction or another.

After adding the indicator on the chart, he immediately draws the Linear Regression Channel and displays the label for important price levels. The channel width depends on how far back it was built. After construction of the canal its beginning, the maximum or minimum is always fixed, and the end of the channel is constantly redrawn with each new maximum or minimum. If, after five new candles (bars) extreme graphics are not updated, the display draws a new price tag, which is the goal at a penetration of the channel.

Indicator parameters:

_FixedDateTime - Date and time for the start of construction of the channel;
STOP_Color - color price tags;
_TrendLineColor - Color channel lines;
LR_WIDTH - line width of the channel.
For starters, the indicator works properly it needs to be configured. The most important parameter setting is " _FixedDateTime ", because the further back in time to the date of this parameter, the wider the channel, and the more important it will be at the cost breakdown of the channel or rebound from it.

The use of trade:

The simplest application of this indicator to trade, namely the linear regression channel, is no different from trading on any other channel configuration. Opening of transactions can be carried out in the breakdown of boundaries, and at otboe from it.

Example 1:

construct a channel desired value for this parameter using the " _FixedDateTime ", changing it to suit your needs. Then wait for when the price approaches the boundary of a channel, it will strike or discourage. At the border otboe goal for profit-taking may serve as the opposite border, for an aggressive trade and the midline channel, for a quiet, conservative trade. In the breakdown of boundaries, the goal is always a price tag indicator, but for more aggressive traders, the price tag may serve to add to the level of the position.

Example 2:

add a few indicators MVV Linear Regression, each of whom will have their bandwidth and their price tags, after the breakdown of a boundary can be roughly calculated the profit target, depending on the importance of the channel, because the wider the channel, the more important it the border.

Download MVV Linear Regression indicator for MT4