Polynomial Regression Channel MT5

Buy 1 get 1 free

how each of these input fields is used and what happens on your chart when you adjust their values:

1. Custom text for comment:

   • How to use: Type any text you want into the "Value" field.
   • Result: The text you type will appear in the top-left corner of the chart window (known as the Chart Comment). You might use this for the indicator's name, version, or your own short notes.

2. Lookback period for regression calculation:

   • How to use: Enter an integer (e.g., 100, 200, 300).
   • Result: This determines how many past price bars the indicator will use to calculate the regression line.
     • Smaller number: The line will adapt to recent price changes more quickly, suitable for observing short-term trends.
     • Larger number: The line will be smoother, referencing more historical data, suitable for observing long-term trends.

3. Polynomial Degree (1-9):

   • How to use: Enter an integer between 1 and 9.
   • Result: This sets the curvature of the regression line.
     • 1 : Straight line (Linear Regression).
     • 2 : Parabolic curve.
     • 3 (default): Cubic curve.
     • Higher values allow the line to fit the price data more closely but can lead to overfitting.

4. Show the center regression line:

   • How to use: Select true (show) or false (hide) from the drop-down list.
   • Result:
     • true : The central regression line will be displayed on the chart.
     • false : The central regression line will be hidden (but the Standard Deviation Bands will still be visible if set to show).

5. Show future projection of the center line:

   • How to use: Select true (show) or false (hide).
   • Result:
     • true : The central regression line will be drawn extending into the future (by the number of bars specified in the next input).
     • false : The central regression line will end at the current bar.

6. Number of bars for future projection:

   • How to use: Enter an integer (e.g., 20, 50, 100).
   • Result: This determines how many bars into the future the projected center regression line (if enabled in point 5) will be drawn.

7. Multiplier for Standard Deviation Band 1:

8. Multiplier for Standard Deviation Band 2:

9. Multiplier for Standard Deviation Band 3:

   • How to use: Enter a decimal number (e.g., 1.0, 1.618, 2.0, 2.618) for each band.
   • Result: These numbers are multiplied by the Standard Deviation value to create the bands above and below the center regression line.
     • Smaller value: Bands will be closer to the center line, making the channel narrower.
     • Larger value: Bands will be further from the center line, making the channel wider.