Laguerre Indicator for Metatrader 5
Real author: John Ehlers
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.
How the indicator is rated by Metatrader community
FREE Laguerre Indicator
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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