The LSMA Auto Regression Channel indicator for mt4 (Metatrader 4) plots the auto regression channel on the chart.
The indicator gets displayed in the main MT4 chart window and consists of an upper channel line, lower channel line and middle line.
Buy and sell trade idea:
- Open a buy trade when price touches the lower red channel line and the LSMA Auto Regression Channel is trending up.
- Open a sell trade when price touches the upper gray channel line and the LSMA Auto Regression Channel is trending down.
- Take profit at the opposite channel line.
The indicator can be used as a standalone trading tool for both trade entries and exits.
It can also be used as an additional trend filter that works together with an existing trading strategy or system of your preference.
Free Download:
Download the “LSMA_Line.mq4” indicator for MT4
Indicator Example Chart (EUR/USD M5)
The example chart below displays the LSMA Auto Regression Channel mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy to trade with the LSMA Auto Regression Channel indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Regression Channel
Does the indicator repaint? No.
Download Now:
Download the “LSMA_Line.mq4” indicator for Metatrader 4
How to install this indicator on Metatrader 4?
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the LSMA_Line.mq4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.