This is a regression channel program I came across. I have an idea that would help people filter out trend versus sideways markets. If the program could be modified to manually adjust the deviation from center line and incorporate an angle degree of tilt of the regression channel it would accomplish three things:

1) With manual adjust of the deviation up and down from center we would be able to see it the currency is ranging to our desired high to low.

2) If the currency breaks down below the bottom or breaks up above the top of the channel, it would signify a trend breakout is taking place.

3) If the angle of the channel is calculated it would help identify that over a set angle, a trend is indeed in place.

If someone would care to modify this indicator and share it and code I would like to test it out and possibly use it in my ea. I have attached the indicator program.

Attached Files

HoursChannel_v1.mq4 (5.2 KB, 59 views)