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Views:: 25990
Rating:: (7)
Published:: 2008.06.16 08:19
Updated:: 2014.04.21 14:52

gbp1.gif (37.13 KB)

gbp2.gif (28.39 KB)

MVV_LinearRegression.mq4 (3.21 KB) view

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The standard linear regression channel and support/resistance levels. If you anchor the beginning of a channel to the price maximum, the channel will be redrawn at each new price minimum. If the minimum is not refreshed within five bars, the indicator will draw a price label that will represent a strong support level after the channel has been broken through. Vice versa, for an up-channel.

The first picture shows channel anchoring, the second one shows price level processing.

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/8144

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