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2008.06.16 08:19
Indicators

MVV_LinearRegression - indicator for MetaTrader 4

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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 Software Corp.
Original code: https://www.mql5.com/ru/code/8144

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