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Linear Regression MTF

This is a colored multi-timeframe liner regression indicator. It is used for the analysis of price movements and market mood.

The market mood is judged by the slope of the linear regression and price being below or above this line.


Purpose

The indicator can be used for manual or automated trading within an Expert Advisor. Values of indicator buffer of the double type can be used for automated trading:

  1. Regression line of M1 period - buffer 0.
  2. Regression line of M5 period - buffer 1.
  3. Regression line of M15 period - buffer 2.
  4. Regression line of M30 period - buffer 3.
  5. Regression line of H1 period - buffer 4.
  6. Regression line of H4 period - buffer 5.
  7. Regression line of D1 period - buffer 6.
  8. Regression line of W1 period - buffer 7.
  9. Regression line of MN period - buffer 8.

Values of the buffers must not be equal to zero.


Inputs

  1. Bars_Number - number of bars for the indicator calculation.
  2. Pice Type:
    • HIGH.
    • LOW.
    • OPEN.
    • CLOSE.
  3. Period M1...MN - calculation timeframe М1...MN:
    • true - yes.
    • false - no.
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