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MVV_LinearRegression - indicator for MetaTrader 4

2008.06.16 08:19
2014.04.21 14:52
gbp1.gif (37.13 KB)
gbp2.gif (28.39 KB)

The standard linear regression channel and support/resistance levels. If you anchor the beginning of a channel to the price maximum, the channel will be redrawn at each new price minimum. If the minimum is not refreshed within five bars, the indicator will draw a price label that will represent a strong support level after the channel has been broken through. Vice versa, for an up-channel.

The first picture shows channel anchoring, the second one shows price level processing.

Translated from Russian by MetaQuotes Ltd.
Original code:

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