The Regression Line Beeta Channel and Triangle is an indicator that can be found on the MQL5 marketplace, we have linked to it below so there is no confusion as to which indicator we are reviewing. The indicator was released on the 4th of August 2016, it has not received any further updates and is still at version 1.0.
This is an indicator created to work with the MetaTrader 4 trading platform, it will display regression lines, moving averages, regression channel, and triangle movements.
It has a few parameters that can be changed to make it suit your needs.
- p: Amount of bars for the Regression Line calculation
- m: Regression Line degree (changes from 1 to 8)
- mn: Regression Channel degree (changes from 1 to 8)
- MaPeriod: Moving Average period
- MaMethod: Moving Average Method
- MaPrice: Moving Average Price
- RegLinePrice: Regression Line Price
- bars: Color bars true
- Triangle: Triangle true
- Channel: Regression Channel true
The Regression Line Beeta Channel and Triangle indicator currently costs $30 to purchase outright, there is not an option to rent the indicator. There is also a free demo version available, this can be used to test it out and to make sure it functions how you need it to.
Unfortunately, there aren’t any actual reviews available for this indicator, so we do not know how the clients are finding it or if it is, in fact, functioning how it should. There is a comment asking for help where the creator replied promptly which is a good sign, As there are no reviews, we would recommend using the demo version to test out the indicator to make sure that it works and that you are able to set it up on your own terminal.
This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/17781