Laguerre MetaTrader indicator | FREE Forex Trading Indicator

Laguerre MetaTrader indicator an entirely unique indicator that does not rely on standard MT4/MT5 indicators It displays the weighted trendline in a separate chart window. It can be used to provide simple entry and exit signals. The indicator is compatible with 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.

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Laguerre Indicator Example MetaTrader Chart

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.