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2013.01.30 09:39
Indicators

R-Squared_v1 - indicator for MetaTrader 5

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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

Fig.1 The R-Squared_v1 indicator

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1494

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