Laguerre RSI Indicator in MT5 Download - Free - [TradingFinder]

The Laguerre RSI indicator is a trend oscillator in MetaTrader 5 that can be used either as a standalone trading system or as a complementary tool for confirmation in trading strategies. The main difference between it and the classic RSI is the removal of signal delays, especially over longer time frames. Additionally, this indicator uses a gamma (Gamma) filter, which reduces the price coefficient and produces fewer false signals.

Indicator Table

Indicator in an Uptrend

When the indicator line reaches its minimum and moves horizontally, it indicates the beginning of a strong upward movement. The AUD/NZD price chart creates a suitable buying opportunity when the price drops below 0.15.

Indicator in a Downtrend

In the AUD/CAD price chart, during an uptrend, when the blue line reaches above 0.75, it presents a selling opportunity for traders. The horizontal movement near zero indicates sustained strength in the downward direction, which this indicator identifies.

Indicator Settings

• Multiplier of RSI: Change the coefficient value;
• Theme of the chart: Background color of the chart.

Conclusion

The Laguerre RSI indicator works well for both beginner and professional Forex traders. Beginners can find better trading signals than the classic RSI, while professional traders can utilize this indicator in more complex trading strategies. This indicator functions well across all daily, weekly, and monthly time frames and in short-term (Intraday) charts.