Trading signals module based on ColorLaguerre indicator - MetaTrader 5 library - MT4/MT5 resources

The signal is formed at the close of the bar. The moment the oscillation line is formed the colored laguerre changes color, indicating the time to enter the market.

Place the ColorLaguerre.ex5 compiled file into terminal_data_folder\MQL5\Indicators.

The input parameters of the default Expert Advisor were used in the test shown below. Stop Loss and Take Profit were not used during testing.

Figure 1. Example of trade on chart

2011 NZDUSD H4 test results:

Figure 2. Test result graph

Since smoothing by the number of existing modules (basic one + one additional module) is performed during the "vote" calculation, the threshold should be indicated taking into account this fact. Therefore, after creating an Expert Advisor using the MQL5 Wizard, the Signal_ThresholdOpen and Signal_ThresholdClose values ​​must be set to 40=(0+80)/2 and 20=(0+40)/2 respectively.

Attachment download

📎 colorlaguerre.mq5 (9.51 KB)

📎 laguerresignal.mqh (11.96 KB)

📎 expm_laguerre.mq5 (7.85 KB)

Source: MQL5 #830