Technical Indicators for MetaTrader 4
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MetaTrader 4
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Overview
In statistics, Regression Channel is a approach for modelling the relationship between a scalar response (or dependent variable) and one or more explanatory variables (or independent variables).We Applied relative strength index(rsi) values to develop regression models of various degrees in order to understand relationship between Rsi and price movement.
Our goal is range prediction and error reduction of Price divergence, thus we use Rsi Regression Channel to fit a predictive model for observed Rsi data set to identify key reversals in price. After setting such model,the fitted line can be used to make a key reversal range through standard deviation.
RSI REGRESSION CHANNEL EA 1: https://www.mql5.com/en/market/product/33728#!tab=comments&comment=11565541
RSI REGRESSION CHANNEL EA 2: https://www.mql5.com/en/market/product/33728#!tab=comments&comment=11630231
1)BUY RSI REGRESSION CHANNEL INDICATOR AND REPLACE IT IN "INDICATORS" FOLDER FROM "MARKET" FOLDER.
2)PLACE EA IN "EXPERTS" FOLDER.
BACKTEST:
DEMO INDICATOR CAN BE USED IN BACKTEST.
Why use Rsi Regression Channel?
- Great for novice traders as well as experienced traders.
- Low risk entries.
- No additional Indicator is needed.
- Its a trading strategy itself.
- It is perfect for scalping and swing trades.
- Simple and easy to use.
- Works in both trending and non trending markets.
- Popup Alerts, Push Notification and Email alerts.
- Can be integrated in Expert Advisors.
Various Degrees of regression included:
Degree 0 – non-zero constant
Degree 1 – linear
Degree 2 – quadratic
Degree 3 – cubic
Degree 4 – quartic (or, if all terms have even degree, biquadratic)
Degree 5 – quintic
Degree 6 – sextic (or, less commonly, hexic)
Degree 7 – septic (or, less commonly, heptic)
Degree 8 – octic
Custom Parameter Available:
*Can change "Degree".
*can change "standard deviation".
*can change "bars" of rsi data of equivalant price bars to valuate regression.
*can change "rsi period", "rsi price type", "timeframe".
*can change color and thickness of upper band,lower band and rsi itself.
*Custom ALERTS
