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

The Laguerre RSI indicator is a trend oscillator in MetaTrader 5 indicators 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 Overview

Like RSI, the Laguerre RSI indicator generates trading signals by crossing overbought and oversold levels. The default coefficient for this indicator is set at 0.7, which traders can adjust based on their strategy. When the blue lines drop below the 0.15 level, it presents a buying opportunity, and if it rises above 0.75, it signals a selling opportunity. These areas are crucial for identifying overbought (Buy) and oversold (Sell) zones in the market.

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

This indicator functions well across all daily, weekly, and monthly time frames and in short-term (Intraday) charts.