Regression Trends can be used in a way similar to parallel channels. The main difference is that there are upper and lower bands which are set a user defined number of standard deviations away from a base line. This is a good tool to use to determine when a price is unusually far away from its baseline.
In Appearance property dialog it is possible to change the appearance of a regression trend:
Sets the color, thickness and line style of the base line, the upper and lower channel lines
Sets background color of the channel
Sets the width of the channel based on standard deviation
In Shape properties dialog you can set precisely the position of the Regression Trend’s points on the time axis by setting the bar number:
Allows for the precise placement of the regression trend’s first point using a bar number.
Allows for the precise placement of the regression trend’s second point using a bar number.
In View properties dialog you can switch the Regression Trend displaying on charts of different timeframes: