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Laguerre RSI Metatrader 4 Forex Indicator

    The Laguerre RSI Metatrader 4 forex indicator is a very popular trend oscillator used in many strategies and systems.

    It was authored by John Ehlers as a technique he used to “warp” the time coefficients of a regular EMA filter, thereby resulting in a quicker response.

    The Laguerre RSI indicator is known to behave in the same way as the classic RSI.

    In addition, the Laguerre RSI indicator gets traded in a similar fashion as the RSI.

    Buying is generally advised when the indicator’s value falls below a certain threshold, and exiting the trade when it surges above a threshold.

    The medium purple line of the Laguerre RSI indicator runs between marked zero lower limit and “1” upper limit.

    Free Download

    Download the “laguerre-rsi.ex4” MT4 indicator

    Example Chart

    The EUR/USD M30 chart below displays the Laguerre RSI Metatrader 4 forex indicator in action.

    Basic Trading Signals

    Buy Signal: Go long when the medium purple line of the Laguerre RSI Metatrader 4 forex indicator breaks back above the 0.15 level from below.

    Sell Signal: Go short when the medium purple line of the Laguerre RSI Metatrader 4 forex indicator dips back below the 0.75 level from above.

    Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the medium purple line of the Laguerre RSI indicator dips below the 0.75 level.

    Exit sell trade: Close all sell orders if while a bearish trend is running, the medium purple line of the Laguerre RSI indicator surges above the 0.15 level.

    Tips: The Laguerre RSI indicator is a trend oscillator indicator that can be used to confirm signals to enter the market, as well as exit it.

    You’ll also stand to enjoy fewer false positives on this indicator than the traditional RSI.

    Download

    Download the “laguerre-rsi.ex4” Metatrader 4 indicator

    MT4 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 4

    Type: chart window indicator

    Customization options: Variable (gamma), width & Style.

    Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

    Type: trend

    Installation

    Copy and paste the laguerre-rsi.ex4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.

    You can access this folder from the top menu as follows:

    File > Open Data Folder > MQL4 > Indicators (paste here)