The I-regr indicator also known as the Linear Regression Channel consists of two parallel lines, equidistant up and down from the line of linear regression trend. The distance between frame of the channel and regression line equals to the value of maximum close price deviation from the regression line.
If price is below the bottom line - BUY
If price is above the upper line - SELL
The middle line can be also used as the Take Profit area or Target Limit.