Linear Regression Channel Breakout Signal Indicator MT4

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

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?