The Ehlers Laguerre Filter indicator for Metatrader 5 is a simplified version of the classic Laguerre technical oscillator.
This version draws interesting buy and sell signal lines on the main chart screen.
All signal lines together create a crossover trading system that should work for any trading style.
Trade Logic:
- A green signal line indicates a bullish trend.
- A red signal line indicates a bearish trend.
The following indicator inputs can be modified: gamma, style, and colors.
Feel free to experiment with the gamma period.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
Free Download
EhlersLaguerreFilter.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Ehlers Laguerre Forex Signals indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Ehlers Laguerre Forex Signals Indicator?
Find a simple trading example below:
Buy Signal
- A bullish signal occurs when the green signal line appears on the chart.
- Open a long trade and set a stop loss below previous swing support.
- Close the buy trade for a fixed profit target, or wait for the red signal line.
Sell Signal
- A bearish signal occurs when the red signal line appears on the chart.
- Open a short trade and set a stop loss above previous swing resistance.
- Close the sell trade for a fixed profit target, or wait for the green signal line.
