Indicators: XR-squared
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XR-squared:
XR-Squared indicator uses linear regression to determine the presence or absence of a market trend.
When the indicator falls below 30, the market is considered to be flat, and when the indicator rises above 70, a trend is considered to be present. With the development of a trend the XR-Squared line rises from the non-trend up to trend levels. When the market reaches a top and retracement starts, the indicator falls again.
Author: Nikolay Kositsin