The Linear Regression Channel is a five-line technical indicator used to analyze the upper and lower limits of an existing trend. Linear regression is a statistical tool used to predict the future from past data. It is used to determine when prices may be overextended. Regularly, it consists of three lines, but we added two additional lines at the outer channel. They could be the range of upper or lower channels.
It comes with buffers instead of object lines which is easier to code to become the MT4 EA rather than the objects.
The biggest advantage of linear regression models is linearity: It makes the estimation procedure simple and, most importantly, these linear equations have an easy-to-understand interpretation on a modular level (i.e., the weights). The major uses for regression analysis are determining the strength of predictors, forecasting an effect, and trend forecasting.
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