The Linear Regression Channel Breakout Signal indicator for Metatrader 4 shows exactly where to buy and sell currency pairs.
It draws the linear regression channel on the chart together with the accompanying buy and sell signal arrows.
A green colored arrow is a buy signal while a violet colored arrow a sell signal.
The indicator works the best for scalpers and day traders during the most active trading hours.
Free Download
Download the linear-regression-channel-breakout.mq4 indicator file (MT4)
Indicator Chart Example
The picture below shows the Linear Regression Channel Breakout Signal indicator attached to the British Pound / U.S. Dollar M5 chart.
How to use this Forex indicator?
This technical indicator can be used in multiple ways, find an example below:
Buy Signal:
- A green arrow is a buy signal.
- Place your stop loss below the linear regression channel.
- Exit the buy trade for a fixed profit target or as soon as a violet colored arrow gets printed on the chart.
Sell Signal:
- A violet arrow is a sell signal.
- Place your stop loss above the linear regression channel.
- Exit the sell trade for a fixed profit target or as soon as a green colored arrow gets printed on the chart.
How to install the Linear Regression Channel Breakout Signal indicator to the Metatrader 4 platform?
- Download the linear-regression-channel-breakout.mq4 indicator file here and save it to your computer
- Open your Metatrader 4 platform
- Click on “File” (top menu) and then select “Open Data Folder” from the drop down menu
- Click on “MQL4” and open the “Indicators” folder
- Paste the indicator file in this folder
- Restart Metatrader 4 and you’re ready to start using the indicator
How to edit the indicator?
- Attach the indicator to any trading chart of your preference
- Right click in the chart and select “Indicators List” from the drop down menu
- Select the indicator from the list and click on “Edit”
- Now you can start editing the indicator (Inputs, Colors and Visualization)
- Final step, click on the “OK” button to save the new configuration
