Welcome, fellow traders! Today, I’m excited to dive into an essential tool that can elevate your trading game – the Regression Analysis Alert for MetaTrader 5.
This nifty indicator keeps an eye on the original barmenteros indicator, comparing four different types of regression: linear, quadratic, logarithmic, and exponential. It smartly selects the one that fits the analyzed data best.
The beauty of this tool lies in its ability to quickly spot regression support and resistance breaks, allowing you to react and make decisions faster.
Changes are neatly displayed in both the Graph and the Alert Panel as shown in the image below:
For example, you might see a message like this: [***** LinReg=0.00024 ***** and LogReg --> LinReg]. This indicates that the best type of regression has switched to LinReg, which is highlighted in the Alert Panel.
Quick Tips:
- If you're trading on lower timeframes (like M1) or using too many symbols, be prepared for a flurry of alerts!
- For more detailed information about the original indicator, check out this link: Original Indicator Details.
Happy trading, and may your alerts lead you to profitable decisions!
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