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//+------------------------------------------------------------------+
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//| LinearRegressionChannel.mq5 |
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//| Copyright 2025, xxxxxxxx |
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//| |
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//+------------------------------------------------------------------+
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#property copyright "Copyright 2025, xxxxxxxx"
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#property link ""
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#property version "3.00" // Final version using OBJ_REGRESSION with smart update
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#property description "Draws a clean Linear Regression Channel, updated on new bars."
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#property indicator_chart_window
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#property indicator_buffers 0 // No buffers needed for plotting
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#property indicator_plots 0 // No plots needed
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//--- Input Parameters ---
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input int InpRegressionPeriod = 100;
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input double InpDeviations = 2.0;
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// Note: OBJ_REGRESSION always uses PRICE_CLOSE, so InpAppliedPrice is not needed.
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//--- Global Variables ---
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int g_ExtPeriod;
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double g_ExtDeviations;
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string g_channel_name;
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datetime g_last_update_time; // To track the time of the last update
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//+------------------------------------------------------------------+
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//| Custom indicator initialization function. |
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//+------------------------------------------------------------------+
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int OnInit()
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{
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g_ExtPeriod = (InpRegressionPeriod < 2) ? 2 : InpRegressionPeriod;
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g_ExtDeviations = (InpDeviations <= 0) ? 2.0 : InpDeviations;
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g_channel_name = "LinRegChannel_" + IntegerToString(ChartID()) + "_" + IntegerToString(GetTickCount());
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g_last_update_time = 0;
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IndicatorSetString(INDICATOR_SHORTNAME, StringFormat("LinReg(%d, %.1f)", g_ExtPeriod, g_ExtDeviations));
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return(INIT_SUCCEEDED);
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}
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//+------------------------------------------------------------------+
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//| Custom indicator deinitialization function. |
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//+------------------------------------------------------------------+
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void OnDeinit(const int reason)
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{
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// Clean up the chart object
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ObjectDelete(0, g_channel_name);
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ChartRedraw();
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}
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//+------------------------------------------------------------------+
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//| Main calculation function. |
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//+------------------------------------------------------------------+
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int OnCalculate(const int rates_total,
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const int prev_calculated,
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const datetime &time[],
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const double &open[],
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const double &high[],
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const double &low[],
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const double &close[],
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const long &tick_volume[],
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const long &volume[],
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const int &spread[])
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{
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if(rates_total < g_ExtPeriod)
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return(0);
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//--- Check if a new bar has appeared ---
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datetime last_bar_time = time[rates_total - 1];
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if(last_bar_time > g_last_update_time)
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{
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UpdateRegressionChannel(rates_total, time);
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g_last_update_time = last_bar_time;
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}
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return(rates_total);
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}
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//+------------------------------------------------------------------+
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//| Updates the position and properties of the regression channel. |
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//+------------------------------------------------------------------+
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void UpdateRegressionChannel(int rates_total, const datetime &time[])
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{
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// Define the start and end time for the channel
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datetime time1 = time[rates_total - g_ExtPeriod];
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datetime time2 = time[rates_total - 1];
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// Check if the object exists. If not, create it.
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if(ObjectFind(0, g_channel_name) < 0)
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{
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if(!ObjectCreate(0, g_channel_name, OBJ_REGRESSION, 0, time1, 0, time2, 0))
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{
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Print("Error creating regression channel object: ", GetLastError());
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return;
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}
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// Set visual properties only once on creation
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ObjectSetInteger(0, g_channel_name, OBJPROP_COLOR, clrRed);
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ObjectSetInteger(0, g_channel_name, OBJPROP_STYLE, STYLE_SOLID);
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ObjectSetDouble(0, g_channel_name, OBJPROP_DEVIATION, g_ExtDeviations);
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ObjectSetInteger(0, g_channel_name, OBJPROP_FILL, false);
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ObjectSetInteger(0, g_channel_name, OBJPROP_RAY_RIGHT, false); // Do not extend to the right
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ObjectSetInteger(0, g_channel_name, OBJPROP_SELECTABLE, false);
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}
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else // If it exists, just move its time coordinates
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{
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ObjectSetInteger(0, g_channel_name, OBJPROP_TIME, 0, time1);
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ObjectSetInteger(0, g_channel_name, OBJPROP_TIME, 1, time2);
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}
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ChartRedraw();
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}
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//+------------------------------------------------------------------+
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//+------------------------------------------------------------------+
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