The Laguerre RSI With Laguerre Filter oscillator designed for Metatrader 5 can be traded as a classic buy and sell technical indicator.
Basically, it identifies overbought and oversold market levels but it works perfectly fine as a signal indicator.
How to trade the market trend with it?
- A buy signal occurs when the tomato-red signal line crosses above the colored middle zone.
- A sell signal occurs when the tomato-red signal line crosses below the colored middle zone.
The following indicator inputs and parameters can be modified: RSI gamma, price, smooth gamma, smooth speed, colors, line style.
The Laguerre RSI With Laguerre Filter oscillator works for any trading instrument support by the MT5 charting platform.
Get to know this technical indicator and try it out on a demo account first to become familiar with it.
It supports all time frames and Forex pairs.
Download Indicator 🆓
The following chart shows how the Laguerre RSI With Laguerre Filter indicator looks like when applied to the MT5 chart.
How To Buy And Sell FX Pairs With The Laguerre RSI With Laguerre Filter Indicator?
Find a simple trading example below:
- A buy signal is confirmed when the tomato-red signal line crosses the middle zone bottom up.
- Open a buy trade and place your stop loss below the previous swing low.
- Exit the buy trade for a predetermined take profit target of reverse the trade when a sell signal occurs in the chart.
- A sell signal is confirmed when the tomato-red signal line crosses the middle zone top down.
- Open a sell trade and place your stop loss above the previous swing high.
- Exit the sell trade for a predetermined take profit target of reverse the trade when a buy signal occurs in the chart.
Download Now 🆓
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 Laguerre_RSI_with_Laguerre_filter.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