Linear regression channel
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can someone translate this tradestation script to mt4 and make it a envelope that adjust itself to highs and lows?
{*******************************************************************
Description : This Indicator plots Linear Regression
Provided By : Omega Research, Inc. (c) Copyright 1999
********************************************************************}
Inputs: Price(Close), Length(14), Displace(0);
If Displace >= 0 OR CurrentBar > AbsValue(Displace) Then Begin
Plot1[Displace](LinearRegValueFC(Price, Length, 0), "LinearReg");
{Alert Criteria}
If Price < Plot1 AND Plot1 Plot1[2] Then
Alert("The Linear Regression has just changed direction and is now bullish")
Else
If Price > Plot1 AND Plot1 > Plot1[1] AND Plot1[1] < Plot1[2] Then
Alert("The Linear Regression has just changed direction and is now bearish");
{Linear Regression Expert Commentary}
#BeginCmtry
Commentary(ExpertLinearReg(Length, Plot1));
#End;
End;