The Linear Regression Channel Metatrader 4 Forex Robot is an automated forex trading software that uses statistical functions to forecast the direction of price.
It has an algorithm that is carefully coded to outline the high, the low, and the middle of a price move under study.
Seemingly, the Linear Regression Channel forex robot is typically employed when there’s need to analyze the upper and lower limits of an existing currency trend.
It is also on record that the Linear Regression Channel EA aids traders pinpoint optimal entry and exit points during price tendencies on the activity chart.
The expert advisor trades only with the price of open candle.
It works best on all time frames with major currency pairs i.e. EURUSD, GBPUSD, USDJPY, USDCAD, etc.
Download the “linear regression channel.mq4” MT4 robot
Strategy Tester Report
Find below the Linear Regression Channel forex robot strategy tester report for the EUR/USD forex pair on the Daily chart.
The EA made a total profit of $12780.01 from a total of 260 trades. The largest winning trade generated $1237.16 in profits while the largest losing trade generated a loss of-$653.02.
Bars in test: 2047 ticks modelled
Initial deposit: $10000.00
Total net profit: $12780.01
Total trades: 260
Largest profit trade: $1237.16
Largest loss trade: -$653.02
Consecutive wins: 5
Consecutive losses: 1
Download the “linear regression channel.ex4” Metatrader 4 robot
MT4 Forex Robot Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Expert advisor
Input Parameters: Channel length (bars), Channel color, Enable “no loss”, When to move break even, How much pips to move sl, Lots size, MaximumRisk, DecreaseFactor, TrailingStop, Stop Loss, MagicNumber, TakeProfit, FastMA, SlowMA, Distance, Momentum_Sell, Momentum_Buy
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Linear Regression Channel
Copy and paste the linear regression channel.mq4 into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)