LinearRegressionChannel

LinearRegressionChannel

Linear Regression Channel – Indicator

The Linear Regression Channel is a custom MT5 indicator that plots a regression line through price over a specified number of bars, with dynamic support and resistance boundaries.

Central Line (BlueViolet):
Represents the linear regression line (best-fit line) based on the selected price type (Close or High/Low).

Upper Line (Lime):
Represents the regression-based resistance level, adjusted dynamically according to the highest deviation from the regression line.

Lower Line (Red):
Represents the regression-based support level, adjusted dynamically according to the lowest deviation from the regression line.

Inputs:

• Price Mode (Close / High-Low): Defines the price type for channel calculation.

  • Close → uses closing prices.

  • High-Low → uses high and low prices.

• Bars to Count: Number of bars used for the regression calculation (default: 50).

Features:

• Visualizes prevailing market trends and their slope.

• Highlights dynamic support and resistance zones.

• Assists with identifying potential price reactions near the channel boundaries.

• Suitable for technical analysis using trend-following or mean-reversion approaches.