i-Regr Indicator
i-Regr indicator for mt4 – download free. Best trend reversal indicator for mt4. Trend channel indicator mt4. Support and resistance indicator for mt4.
Description
i-Regr indicator for MetaTrader is a parallel line forex indicator suited for identifying a trend direction and potential reversal zones. It was built with the principle of linear regression to detect the high and low of the price of an asset.
The indicator was designed with algorithms that use equidistant parallel lines to identify the high and low of the price, otherwise known as a price channel. The identified price channel may act as potential support and resistance levels which may translate to a BUY/SELL zone for trade entries.
This dynamic MT4 indicator is ideal for identifying the direction of both short and long-term trends, which makes it a great indicator for trend traders and counter-trend traders. It helps you to anticipate price reversal at certain levels and make a smart trading decision.
Furthermore, the i-Regr indicator is suited for different levels of traders like novice, intermediate, and advanced traders. Besides, it can also be used for various trading styles like scalping, day/intraday, and swing trading.
How To Trade With I-Regr Indicator
BUY and SELL Signals: Firstly, wait for the indicator to identify the trend and paint the equidistant parallel line on your chart. Secondly, wait for the price to touch the lower boundary (yellow line) of the indicator with a visible wick rejection.
With these conditions, you may then open a BUY/LONG position after the price also prints a BULLISH candlestick. Note that the bullish candlestick is a confirmation (confluence) that signifies a potential up trend.
The above principle for identifying a BUY setup and entry is also applicable to generating a SELL setup and entry. Stop Loss is recommended to be placed a few pips above or below your entry zone depending on the trade position (BUY or SELL).
Also, it is recommended to break-even on your winning trade once the price moves slightly above the green line of the indicator. The opposite (yellow) line of the indicator is the ideal Take Profit zone.
Conclusion
The i-Regr indicator for MT4 is the best forex trading indicator that is well suited to trade price reversal with more precision. It is chart friendly, easy to understand, and ideal for all classes of traders. Finally, it is free to download.