Angle Regression Line MT4
The indicator allows determining the precise strength and trend direction. The histogram displayed in a separate window shows changes of the slope of the regression line. A signal for entering a deal is crossing the zero line and/or a divergence. The indicator is also useful for wave analysis.
- Period - period of calculation, 10 on default;
- AngleTreshold - slope at which a flat is displayed, 6.0 on default (within the range from -6.0 to 6.0);
- FilterVolume - volume filter (divergence signals are not provided in case the volume is below average for the last 50 bars), true on default;
- DisplayAlert - enables notifications about divergence, true on default;
- DrawIndicatorTrendLines - enables displaying the trend lines of the indicator during divergence, true on default;
- DrawPriceTrendLines - enables displaying the trend lines on the price chart during divergence, true on default.
The indicator is suitable for any currency pair and timeframe.
- Calculated bars - to optimize calculations;
- Arrows displacement - for placing arrows conveniently;
- Line bull divergence color, Line bear divergence color - color of the divergence lines.
- Display divergence alert (true on default);
- Display cross zero alert (true on default).