Linear Regression Oscillator MT5
The calculation basis of the Linear Regression Oscillator (LRO) indicator values includes the difference between the final and initial points of the linear regression.
The indicator is drawn in a separate window in the form of a histogram with the additional signal line.
It has one parameter:
- Per - the number of bars (candles) used in calculation of the indicator value.
You can use the LRO indicator as an oscillator and open transactions under the following conditions:
- When the histogram color changes.
- When the zero line is crossed.
- When a divergence is formed.
The indicator has a signal line that filters the position opening signals.
- The indicator changes color to green and is above a signal line.
- When the indicator changes color to red - close the long position.
- The indicator changes color to red and is below a signal line.
- When the indicator changes color to green - close the short position.