Forex Linear Regression Breakout Scalping Strategy
From the Old Kings archive: Forex Linear Regression Breakout Scalping Strategy, an indicator for MetaTrader 4. Its name points to short scalping trades and breakouts from a range. In the code it works with moving averages and ATR. It draws arrows on the chart and can send alerts. It has 35 settings, for example Time Zone Of Data (default 0), Time Zone Of Session (default 0) and ATRPeriod (default 5). Load it on a demo chart and check whether its signals repaint before trusting them. Inside: 4 indicator files with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About Forex Linear Regression Breakout Scalping Strategy
Forex Linear Regression Breakout Scalping Strategy is an indicator for MetaTrader 4 based on Moving Average and ATR. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 35 settings, such as Time zone of data, Time zone of session and Atr period. MQL source code included.
Files in the download: ADR 1.mq4, installation manual.txt, Linear Regression Breakout system.tpl, LinRegressionBreakout.mq4, schaff_Plot_dcec_alerts.mq4, SuperTrend.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Time zone of data | 0 | chart time zone (from GMT) |
| Time zone of session | 0 | dest time zone (from GMT) |
| Atr period | 5 | period for ATR |
| Use manual adr | false | allows use of manual value for range |
| Manual adr value pips | 0 | manual value for range |
| Line style | 2 | |
| Line thickness1 | 1 | normal thickness |
| Line color1 | Orange | normal color |
| Line thickness2 | 2 | thickness for range reached state |
| Line color2 | Blue | color for range reached state |
| Bar for labels | -10 | number of bars from right, where lines labels will be shown |
| Debug logger | false | |
| Send email | true | Turn this alert on or off |
| S1 | . | |
| Nlin | 25 | |
| S2 | . | |
| R0 | 150 | |
| S3 | . | |
| T0 | 2.618 | |
| S4 | Close,\n false - High/Low | |
| Use close | true | |
| S5 | ||
| Nbars | 5000 | |
| _ | parameters | |
| Stc period | 10 | Period or timeframe used by the calculation |
| Fast ma period | 23 | Period or timeframe used by the calculation |
| Slow ma period | 50 | Period or timeframe used by the calculation |
| Alerts on | true | Turn this alert on or off |
| Alerts on current | true | Turn this alert on or off |
| Alerts message | true | Turn this alert on or off |
| Alerts sound | true | Turn this alert on or off |
| Alerts email | false | Turn this alert on or off |
| Soundfile | alert2.wav | Turn this alert on or off |
| Nbr periods | 10 | Number of bars in the calculation |
| Multiplier | 3.0 | How much the lot size grows after a loss |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Scalping · Breakout · Buy/Sell Arrows · Alerts · Moving Average · ATR · MT4 Indicator · MQL4 Source Code