XR-Squared Indicator for MetaTrader
Info
The XR-Squared Indicator for MetaTrader is a Indicator for MetaTrader 5 that the xr-squared indicator employs linear regression to assess the existence of a market trend. It displays the XR-Squared line and two levels for trend and flat market conditions on the chart.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use XR-Squared Indicator for MetaTrader
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
The XR-Squared indicator employs linear regression to assess the existence of a market trend.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Previous Day High, Low, and Close Indicator - another powerful indicator for MetaTrader 5 traders.
The XR-Squared indicator employs linear regression to assess the existence of a market trend. It displays the XR-Squared line and two levels for trend and flat market conditions on the chart. Indicator values range from 0 to 100, with values below 30 indicating a flat market and values above 70 suggesting a trend.Also recommended: Quantora ADR Calculator MT5 - Professional Average Daily Range Indicator for MetaTrader 5 - similar indicator with strong performance on MetaTrader 5.
As a trend develops, the XR-Squared line rises from the non-trend to trend levels. When the market peaks and retracement occurs, the indicator declines.
A higher XR-Squared value indicates a statistically significant new trend. The critical power level of a trend decreases with the chosen period.
This indicator offers various smoothing methods:
- Simple Moving Average
- Exponential Moving Average
- Smoothed Moving Average
- Linear Weighted Moving Average
- JMA Adaptive Average
- Ultralinear Smoothing
- Parabolic Smoothing
- Tillson's Multiple Exponential Smoothing
- Tushar Chande's Algorithm Smoothing
- Perry Kaufman's Algorithm Smoothing
Note that phase-type parameters vary significantly among different smoothing algorithms. For JMA, it's an external phase variable ranging from -100 to +100. For T3, it represents a smoothing ratio multiplied by 100 for visualization. For VIDYA, it's a CMO oscillator period, and for AMA, it's a slow EMA period. These parameters do not influence smoothing in other algorithms. In AMA, the fast EMA period is fixed at 2, and the ratio of raising to the power is also 2.
The indicator utilizes the SmoothAlgorithms.mqh library classes (to be copied to terminal_data_folder\mql5\include). For detailed information on class usage, refer to the 2026 article.
You may also like: Session High-Low Indicator for MetaTrader - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property version "1.00"
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_plots 2
#property indicator_type1 draw_line
#property indicator_color1 deeppink
#property indicator_style1 style_solid.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.