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
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1494
The SlopeDirectionLine trend indicator with the ability to change the algorithms of averaging and triggering alerts, push notifications and sending e-mail messages.Paromon
The indicator draws the lines of day start and its high and low price values.