The ATR Adaptive Laguerre RSI Forex indicator for Metatrader 5 is a popular ATR-type technical oscillator that provides great entry and exit signals.
The indicator appears in a separate chart window as a signal line that is colored blue, orange, and gray.
The Adaptive RSI indicator uses the following extreme boundaries: 0.85 and 0.15.
How to spot bullish and bearish trends with it?
- The blue line indicates a bullish trend.
- The orange line indicates a bearish trend.
- The gray line is neutral.
The ATR Adaptive Laguerre RSI indicator works for any trading instrument that can be loaded in the Metatrader 5 platform.
The following indicator inputs can be modified: ATR period, price, price smoothing period, price smoothing method, level up, and level down.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
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ATR adaptive smoothed Laguerre RSI 2.mq5 Indicator (MT5)
Chart Example
The following chart shows what the ATR Adaptive Laguerre RSI indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The ATR Adaptive Laguerre RSI Forex Indicator?
Find a simple trading example below:
Buy Signal
- The start of the blue colored line is a bullish signal.
- Open a buy trade and set your initial stop loss below support.
- Close the buy trade for a reward/risk ratio of at least 1.6, or wait for a sell signal.
Sell Signal
- The start of the orange colored line is a bearish signal.
- Open a sell trade and set your initial stop loss above resistance.
- Close the sell trade for a reward/risk ratio of at least 1.6, or wait for a buy signal.
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ATR adaptive smoothed Laguerre RSI 2.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the ATR adaptive smoothed Laguerre RSI 2.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration