The Adaptive Laguerre filter 2 Metatrader 5 forex indicator is an adaptive Laguerre filter.
The main difference (addition) among the current versions and the one in view is that this one deploys smoothing that does not use any of the averages but is applied in the core of the Laguerre filter calculation.
It is this Laguerre filter calculation that keeps the lag as minimal as possible and adds flexibility (and experimenting possibility – use very big smooth parameter as an example).
The Adaptive Laguerre filter 2 Metatrader 5 forex indicator allows “smoothing” coefficient that starts from 0 to infinity (basically as much as the Metatrader can hold).
Just as seen on other versions, there are 22 types of prices seen on this technical analysis indicator.
The USD/CHF M30 chart below displays the Adaptive Laguerre filter 2 forex indicator in action
Basic Trading Signals
Buy Signal: Go long when the line of the Adaptive Laguerre filter 2 Metatrader 5 forex indicator turns deep sky blue.
Sell Signal: Go short when the line of the Adaptive Laguerre filter 2 Metatrader 5 forex indicator turns sandy brown.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the line of the Adaptive Laguerre filter 2 Metatrader 5 indicator turns sandy brown.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the line of the Adaptive Laguerre filter 2 MT5 forex indicator turns deep sky blue.
Tips: The Adaptive Laguerre_filter 2 is a suitable Metatrader 5 forex indicator for traders with short-term and medium term outlook.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (Time frame, Laguerre period, Laguerre “smooth”, Price, Turn alerts on?, Alert on current bar?, Display messages on alerts?, Play sound on alerts?, Send email on alerts?, Send push notification on alerts?, Interpolate mtf data?), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the Adaptive_Laguerre_filter_2.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)