ATR Adaptive Smoothed Laguerre RSI (dlvl) - MetaTrader 5 Script - MT4/MT5 Resources
The Laguerre RSI indicator created by John F. Ehlers is described in his book "Cybernetic Analysis of Stocks and Futures".
This version:
An alternative to using a fixed period for Laguerre RSI calculations is to use ATR (Average True Range) to adjust the calculation period. It makes the RSI more responsive during certain periods (periods of high volatility) and the order cycles smoother (periods of low volatility). This version also adds an option with smoothed values. The method used for smoothing is to add minimal lag and will not affect the result much but helps reduce the signal, which will reduce false signals.
Additionally, this version uses dynamic levels instead of using fixed levels. At first glance, the Laguerre RSI doesn't seem like a "good candidate" for the dynamic levels approach (dynamic levels perform best when the changes are not as sudden as the Laguerre RSI), but it produces good results and seems to beat the fixed levels approach, so there's that.
You can use this (in conjunction with the adjustable level) for signals when the color of the Laguerre RSI changes.
Attachment download
📎 atr_adaptive_smooth_laguerre_rsi_bdlvla.mq5 (14.43 KB)
Source: MQL5 #22731
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