Laguerre Filter - No Gamma - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
John Ehlers described the Laguerre filter long ago in the document "Time Warp - No Space Travel Required". It is not widely used, probably because of the use of a "mysterious" parameter called the "gamma" parameter. This parameter is the dumping factor of the low-pass EMA filter. As you can see it's obvious why it's not widely understood what it does
This version does not use that parameter, but instead uses what most traders are used to when it comes to the Average Similarity indicator: periods. This way it can be easily used as any other average type indicator, now you only need to use two well-known parameters:
This cycle is designed to "mimic" the average very well. Since this indicator produces very smooth results (even for very short periods of time), it is a fairly useful indicator. You can use color changes as signals
Attachment download
📎 laguerre_filter_-_ng.mq5 (9.13 KB)
Source: MQL5 #22555
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •
