Explore the latest free tools from the MQL5 community. Here's a new indicator, expert advisor, or script for MetaTrader.
The indicator plots a channel using the linear regression model: y=b+a*x.
When calculation of regression coefficients (a and b) it uses only completed bars. The number of bars should be greater than 2 (and less than total bars in history-1), it is specified in InChPeriod input parameter. The indicator values for the last (uncompleted) bar is calculated using the values of calculated regression coefficients.
It's assumed, that:
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- not less than 68.26% of price values are located between the "Up" and "Down" lines.
- not less than 95.44% of price values are located between the "High" and "Low" lines.
The recalculation of the regression coefficient is performed when total bars in the history has changed, for example, for the case of a new bar.
Complement community code with advanced automation from RobotFX.
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