Some traders like to use the linear regression to gauge an understanding of the current market. Here you can download a Linear Regression Slope Indicator for MT5 (Metatrader 5).
What Is The MT5 Linear Regression Slope Indicator
The Linear Regression Slope indicator for MT5 indicates the slope of a regression channel.
Through a series of formulas the indicator automatically creates a line from the linear regression.
A linear regression channel always has an inclination, this inclination is the slope.
A Regression Slope is one way of using Linear Regression in Metatrader.
In the article about Linear Regression Indicator for Metatrader you can find other indicator that you might want to consider.
Why Is The MT5 Linear Regression Slope Indicator Useful
Linear Regression Slope is one way of spotting the current trend of the market.
Other than the trend the slope can also show the momentum of the trend.
If the line is above zero generally the price is in uptrend while below zero the price is in downtrend.
Furthermore, if the slope is increasing in uptrend then the momentum is increasing.
Conversely, if the slope is decreasing there is a slow down in the momentum (opposite for downtrends).
How To Download And Use The MT5 Regression Slope
You can Download the FREE indicator with the link at the bottom of this page and install it following the below instructions.
The installation is very easy to perform, same is the use.
Once you run the Indicator you can set the parameters.
You can select how many candles to use for the calculation of the channel and how many of the most recent bars not to consider.
To install the Indicator please follow the instructions below:
- Download the indicator file
- Open the Metatrader Data Folder (In File > Open Data Folder)
- Open the MQL5 Folder
- Copy the file in the Indicators
- Restart Metatrader
For more detailed instruction on how to perform the installation please visit this article.
Please feel free to leave a feedback regarding the indicator or Contact Us for anything else.