MT4 indicator (Laguerre_RSI.mq4)
Download indicator: Laguerre.mq4
Download indicator: Laguerre_RSI.mq4
Download indicator: LaguerreFilter.mq4
Laguerre RSI indicator = the same as Laguerre, both paint the same picture.
Laguerre RSI indicator settings
Default parameters: Fixed minimum -0.05 Fixed Maximum 1.05
Laguerre Filter line setting Gamma: 0.85
How to trade with Laguerre RSI indicator
Buy when Laguerre RSI crosses upwards above 0.15.
While indicator runs flat above 0.85 level, it means that an uptrend is strong.
How to use Laguerre Filter Line
An additional Forex indicator — Laguerre Filter line — is drawn directly over the charts and looks like a moving average. Laguerre Filter line filters Laguerre RSI signals.
When Laguerre RSI tells to go Long (buy), Forex traders would enter only if price is above Laguerre Filter line. Opposite true for Sell signals: when Laguerre RSI signals to Short, price must be below Laguerre Filter line in order for a signal to be valid.
Laguerre Filter line doesn't filter all false signals, though.
Forex trades may choose to play with Laguerre RSI settings in order to make Laguerre indicator more or less sensitive. Settings apply to Gamma parameters. Common settings are:
When using Laguerre Filter line together with Laguerre RSI in Forex, make sure they both have the same Gamma settings.
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