Laguerre RSI Indicator Download for MT5 - Free | Forex Indicator Download - MetaTrader 5 Resource

The Laguerre RSI indicator is a trend oscillator in MetaTrader 5. The indicator can be used as a standalone trading system or as a complementary tool for confirming trading strategies.

The main difference between it and classic RSI is that it eliminates signal delays, especially on longer time frames. Additionally, this indicator uses a gamma filter , which reduces the price coefficient and produces fewer false signals.

Indicator Table

Indicator Overview

Like the RSI, the Laguerre RSI indicator generates trading signals by crossing overbought and oversold levels. The default coefficient of this indicator is set to 0.7, which traders can adjust according to their own strategies. When the blue line falls below the 0.15 level, it represents a buying opportunity, and if it rises above the 0.75 level, it represents a selling opportunity. These areas are critical for identifying overbought (buy) and oversold (sell) areas in the market.

Indicators are in an upward trend

When the indicator line reaches its lowest point and moves horizontally, it indicates the beginning of a strong uptrend. The AUD/NZD price chart creates suitable buying opportunities when the price falls below 0.15.

Indicators are in a downward trend

On the AUD/CAD price chart, when the blue line reaches above 0.75 during an uptrend, it provides traders with a selling opportunity. Horizontal movement near zero indicates continued strength in the downside direction identified by this indicator.

Indicator Settings

• Multiplier of RSI: change the coefficient value;
• Theme of the chart : The background color of the chart.

Conclusion

The indicator works well on all daily, weekly, and monthly time frames and short-term (Intraday) charts.