R-Squared is the linear regression indicator. Despite the fact that the indicator looks like an oscillator it is necessary to understand that it calculates "reliability" of the current trend.

The R-Squared indicator appeared in MetaTrader 4 from MetaStock. Thus you can find the main description of its work in this terminal. It should be noted that the higher the value of R-Squared indicator, the more likely that a new trend is statistically important. Depending on the period, critical power level of a trend decreases.

Fig.1 The R-Squared_v1 indicator