Laguerre RSI

Laguerre RSI is a much more advanced version of the basic RSI indicator. It was created by John Ehler and documented in his book

MT4 indicator (Laguerre_RSI.mq4)

Forex MT4 indicator Laguerre indicator Download: Laguerre.mq4

Forex MT4 indicator Laguerre RSI indicator Download: Laguerre_RSI.mq4

Forex MT4 indicator Laguerre filter indicator Download: LaguerreFilter.mq4

Laguerre RSI indicator = as Laguerre, as the color of the same image.

Laguerre RSI indicator settings


Gamma: 0.85
Count Bars: 9500

Standard parameters: Fixed minimum maximum -0.05 1.05
Standard levels: 0.85, 0.45 and 0.15

Laguerre filter line setting Gamma: 0.85

Laguerre and Laguerre RSI indicators for MetaTrader 4. Download Laguerre.mq4, LaguerreRSI.mq4; learn how to use Laguerre indicator and start trading today.

How to trade with Laguerre RSI indicator


Laguerre Buy when RSI crosses up over 0.15.
Sell when Laguerre RSI crosses below 0.85.

While the indicator is working flat above 0.85 level, it means that the uptrend is strong.
While the indicator works perfectly .15 level, it means that the downtrend is strong.

Forex MT4 indicator Laguerre RSI
How to use the Laguerre filter line


Additional Forex indicator - Laguerre Filter Line - is poised directly over the charts and looks like a moving average. Laguerre Filter Line filters Laguerre RSI signals.

Laguerre RSI When told to go long (buy), Forex traders could enter only if the price is above the Laguerre filter line. The opposite is true for sell signals: when Laguerre RSI signals to Short, the price must be under the Laguerre filter line for the signal to be valid.

Forex MT4 indicator Laguerre RSI

Laguerre filter line filter all false signals, though.

Forex trades can choose to play with Laguerre RSI settings in order to make the Laguerre indicator more or less sensitive. Settings related to the Gamma parameters. General settings:
Gamma 0.85
Gamma 0.7
Gamma 0.55

When using Laguerre filter line with Laguerre RSI in Forex, make sure they both have the same gamma settings.