Laguerre indicator is an RSI indicator algorithm based on the Laguerre adaptive filter.
It was created by John Ehlers - the expert who applied digital signals processing methods to futures trading. Technical Papers
section of his web site contains plenty of examples of the method use.
Laguerre indicator shows the overbought/oversold states of the market. It is recommended to buy when a price goes beyond the upper level and sell when it goes below the lower level. Center line breakout is also quite a strong signal for opening positions. Leaving overbought/oversold areas is yet another way to get trading signals using the indicator.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/432
A non-invasive candle time that can be positioned next to price or near a corner.Variation
This trend indicator shows the current trend direction and moments for closing of the opened position.