Laguerre Indicator for Metatrader 5

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Real author: John Ehlers

laguerre indicator mt5


Laguerre indicator is an RSI indicator algorithm based on the Laguerre adaptive filter. It was created by John Ehlers – the expert who applied digital signals processing methods to futures trading.

Laguerre indicator shows the overbought/oversold states of the market.

It is recommended to buy when a price goes beyond the upper level and sell when it goes below the lower level.

Center line breakout is also quite a strong signal for opening positions. Leaving overbought/oversold areas is yet another way to get trading signals using the indicator.  

This is the one (of many) way how to use this indicator.

  • Buy when Laguerre crosses upwards above 0.15.

  • Sell when Laguerre crosses down below 0.85.

  • While indicator runs flat above 0.85 level, it means that an uptrend is strong.

  • While indicator runs flat below 0.15 level, it means that a downtrend is strong.

 

laguerre indicator mt5

 

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How to install custom indicators in Metatrader 5

  • Download the MQ5/EX5 file into your C:\Program Files\MetaTrader 5\MQL5\Indicators folder

  • If you download the zip file, unzip it and locate the MQ5 file in C:\Program Files\MetaTrader 5\MQL5\Indicators

  • Double-click on the file, the Mq5 editor will open and hit “Compile”

  • Restart your MetaTrader 5 application

  • On the left hand side, look for the “Navigator” window and under the “Indicators” tab you should find the Indicators

  • Drag (Click and drag) the indicator onto the chart

  • Choose your settings and click OK

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