LinearRegressionChannel
Linear Regression Channel – Indicator
The Linear Regression Channel is a custom MT5 indicator that plots a regression line through price over a specified number of bars, with dynamic support and resistance boundaries.
Central Line (BlueViolet):
Represents the linear regression line (best-fit line) based on the selected price type (Close or High/Low).
Upper Line (Lime):
Represents the regression-based resistance level, adjusted dynamically according to the highest deviation from the regression line.
Lower Line (Red):
Represents the regression-based support level, adjusted dynamically according to the lowest deviation from the regression line.
Inputs:
-
Price Mode (Close / High-Low): Defines the price type for channel calculation.
-
Close → uses closing prices.
-
High-Low → uses high and low prices.
-
-
Bars to Count: Number of bars used for the regression calculation (default: 50).
Features:
-
Visualizes prevailing market trends and their slope.
-
Highlights dynamic support and resistance zones.
-
Assists with identifying potential price reactions near the channel boundaries.
-
Suitable for technical analysis using trend-following or mean-reversion approaches.
