What is Linear Regression Sketcher?
Linear Regression Sketcher is an MT5 indicator that calculates and projects rolling linear regression lines over recent price candles.
By evaluating the slope and channel boundaries of price action, it allows traders to observe directional bias and momentum acceleration without lagging averages.
How to use Linear Regression Sketcher
Observe the slope of the regression line to confirm whether short-term momentum favors buyers or sellers.
Use upper and lower boundary lines as visual reference points to evaluate potential consolidation or breakout moves.
Where it helps
Projects rolling linear regression lines directly over recent candles.
Upper and lower channel lines help identify short-term range extremes.
MT5 Indicator Parameters
The table below lists the available MT5 indicator parameters. You can customize these options in the MetaTrader Inputs dialog to match your trading preferences.
| Parameter | Description |
|---|---|
| Regression Period | Sets the lookback period for calculating the linear regression slope. Default: 14. |
| Line Width | Controls the thickness of the displayed regression lines. Default: 2. |
| Upper Band Color | Sets the color for the upper regression boundary line. Default: DodgerBlue. |
| Lower Band Color | Sets the color for the lower regression boundary line. Default: OrangeRed. |
The screenshot above shows the default input parameters in the MT5 settings window.
How to Install .ex5 Indicator in MetaTrader 5
- Download the ZIP file and extract it.
- In MT5, select File → Open Data Folder.
- Open MQL5 → Indicators and copy the EX5 or MQ5 file into it.
- If the package includes library files, copy them to MQL5 → Libraries. Copy TPL files to the top-level templates folder.
- Restart MT5, find the indicator in the Navigator, and drag it onto a chart.
Test the tool on a demo account first. File contents and required folders can vary between packages.
