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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

    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