Introduction to the Laguerre RSI Indicator
The Laguerre RSI Indicator is a combination of the Relative Strength Index indicator and Laguerre oscillator.
The signal line fluctuates between 0 and 1 levels, which reflects corresponding oversold and overbought market states. When that signal line of the Laguerre RSI starts going in the opposite direction, it may be an early sign of trend reversal.
We suggest using that Laguerre gauge as an addition to some good forex strategy to confirm entry points.
It fits all kinds of timeframes and currency pairs.
The indicator is displayed in a separate window placed just below the main trading chart.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Laguerre RSI indicator in MT4?
Copy and paste the Laguerre RSI.ex4 or Laguerre RSI.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Laguerre RSI indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Laguerre RSI Indicator Free Download
To download the Laguerre RSI Indicator for Metatrader 4 (MT4) for free just click the button below: