Laguerre MetaTrader indicator is a completely custom indicator that doesn't rely on the standard MT4/MT5 indicators. It shows the weighted trendline in the separate window of the chart. It can be used for easy entry and exit signals. The indicator is available for both MT4 and MT5.
Input parameters
gamma (default = 0.7) — multiplier that is used in the line's levels calculation. The higher it is the smoother is the line.
CountBars (default = 950) — the maximum number of bars for which to calculate this indicator. Set as high as possible if you don't experience performance problems.
How to trade with Laguerre indicator
Laguerre can be used to buy when the line reaches 0.2 level from below and exit the long trade when it reaches 0.5 level from above. Sell when the line crosses 0.8 from above and exit the short trade when the line crosses 0.5 level from below.
How to download and install an indicator
In order to install the indicator on your MT4 or MT5 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT5>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “Laguerre indicator” template to apply it on the chart.
Note: This indicator was developed by a third party. AtoZ Markets does not carry any copyrights over this trading tool.
