Laguerre Volume Index Indicator for MetaTrader 5 Download - Free - [TFlab]

The Laguerre Volume Index Indicator is an analytical tool among MetaTrader 5 indicators designed with the Laguerre filter based on trade volume analysis.This indicator is used to identify potential overbought and oversold zones in the market.

Specifications Table of Laguerre Volume Index Indicator

The following table summarizes the features of this indicator:

Indicator in an Uptrend

In an uptrend, the price approaches oversold zones, and as the blue line crosses the 0.25 level upward, the trend shifts to bullish.

Traders look for confirmations such as Marubozu candlesticks to ensure trend continuation.

Indicator in a Downtrend

When the blue oscillator line crosses below the 0.75 level, the price trend turns bearish. Traders initiate sell trades and exit as the indicator reaches oversold zones.

Indicator Settings

The image below provides a comprehensive overview of the indicator’s functionality and details:

• Gamma: Adjusts the sensitivity of the indicator to price changes
• Shift: Temporal adjustment of the indicator relative to price data
• Theme: Selection of the indicator’s background theme

Conclusion

The Laguerre Volume Index Oscillator (Laguerre Volume Index) is one of the advanced trading assist Indicators in MetaTrader 5, designed to identify overbought and oversold zones.

This indicator analyzes trade volume and strength, predicts potential trend changes, and determines suitable entry and exit points for trades.