Linear Regression calculation based on pine script v4
Linear Regression calculation based on pine script v4 MT5 indicator for multiple cycles. The indicator helps to identify potential trading opportunities in different time frames.
Linear regression curve
A line that best fits the prices specified over a user-defined time period. It is calculated using the least squares method. The result of this function is calculated using the formula: linreg = intercept + slope * (length – 1 – offset), where length is the y argument, offset is the z argument, intercept and slope are the values calculated with the least squares method on source series (x argument)
pine script v4 function I/O
linreg(source, length, offset) → series[float]
This indicator includes a simple function to calculate the linreg function based on pine script. This function can be used as a copy and paste snippet in conversion projects from tradingview platform.
How to install Linear Regression calculation based on pine script v4 Indicator in MetaTrader 5 Forex Trading Platform?
- Extract the downloaded Linear Regression calculation based on pine script v4 Indicator.zip file.
- In the MetaTrader 5 trading platform, go to the “File” menu and click “Open Data Folder”.
- Navigate to the MQL5 folder and open the Indicators folder.
- Paste the Linear Regression calculation based on pine script v4 Indicator.ex5 file(s) into the Indicators folder.
- Restart the MetaTrader 5 platform.
