The Laguerre RSI Indicator MT4 is an oscillator indicator for MetaTrader 4, designed to identify overbought and oversold conditions. It is an improved standard RSI indicator that offers a refined approach by smoothing oscillator values with reduced noise and lag, resulting in more accurate trading signals. The signal line plotted on the additional smaller chart helps to identify potential reversal or continuation movements. This indicator ranges between 0 and 1, with values above 0.75 signaling overbought conditions and values below 0.15 indicating oversold conditions. This indicator generates fewer trading signals but offers improved accuracy. The indicator is customizable with a gamma setting, a higher value increases signal frequency but with increased lag. This indicator is a valuable asset for traders aiming to identify potential entry and exit points.

This indicator is suitable for traders of all skill levels and across all time frames. Its versatility extends to trading multiple currency pairs within any forex trading system or strategy, for additional confirmation of trading entries or exits.

Indicator Settings

How to Install Laguerre RSI Indicator MT4

Download and extract files in the MetaTrader “Indicators” Data Folder found in the Main Menu File section:

The “Indicators” folder is located in the “MQL4” folder.
Restart MetaTrader Platform.

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