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What's the use of "price" parameter?
Linear Regression Indicators are few of the most powerful concepts of technical analysis in FOREX and Stocks. However, they are also overlooked by most traders which do not incorporate them in trading and analysis. Linear Regression is a statistical tool that is used show the trend of a variable. Using calculations, regression creates a formula which best represents the past movements of a variable, in order to easily predict its future values. The simplest indicator using linear regression in FOREX is as a Moving Average.
It is possible to show create a moving average of price using linear regression. The name NonLagMA correctly suggests that this moving average is much faster than most averages, and reacts quicker to changes in price. The quick reaction allows traders to enter trades earlier. The main advantages of the NonLagMa are that it is very quick in adapting to price trends, and is good at producing trend-following signals.
Another very useful technical indicator is the Linear Regression Channel. This indicator uses linear regression to create a channel pattern on price. A great feature of this indicator is that it allows the tradar to separate trends and ranges easily, by looking at the slope of the channel. Strongly trending channels indicate that the trend is strong, and flat channels indicate that price is in a range. The linear regression channel is also extremely useful for identifying dynamic support and resistance levels. The lower and upper trend lines of the channel often serve as support and resistance levels which trader can base trades.
This principle is the basis of the Jaimo trading system that uses a set of two linear regression channels to generate its signals. The LR Channel indicator can be found in MetaTrader platform near the trend line tool. Linear Regression is a very powerful technical tool and indicators that implement this idea have many advantages over standard ones, both in speed and abilities. Using them in your trading systems can highly increase your performance.
Works great with MT4. Really fine trend indicator.
this indi works perfectly with MT4 , no lags no prbs no nothing. the adv is the change is colour wnen chanding direction...
My bad. It is working fine. This is a great indicator. I originally rated 1 star as something was wrong with my platform. It is working fine now. I give it 5 stars.
I have downloaded this indicator and placed it into my mt4 indicator file but when I load the platform, this indicator does not appear in the list of indicators for selection. Did I miss out on anything?