Laguerre Indicator for Metatrader 4

In this article, we show a custom indicator for Metatrader 4 and Metatrader 5 that allow adding the Laguerre indicator to a window below the price chart. This indicator can be used to generate buy and sale trading signals, but like all tools developed in technical analysis, it is recommended its used in conjunction with other indicators to increase the reliability of the signals.

Indicator Parameters

gamma (normal value = 0.7): This parameter is the multiplier used in calculating the level lines. The higher this value the smoother it will be the line of this indicator.

CountBars (normal value = 950): It represents the largest number of bars/candles that are used to calculate the Laguerre. It can be used with increasing values ​​unless you experience performance problems with the platform since the higher the number of bars the higher the consumption of resources.

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