Laguerre-Smoothed Rate of Change Histogram

Summary

This document describes a rate-of-change indicator smoothed with a Laguerre filter and displayed as a color histogram. It exposes parameters for the lookback period, smoothing factor, overbought and oversold levels, level styling, and horizontal bar shift. The presentation suggests using the histogram and threshold levels to inspect momentum while reducing some of the raw rate-of-change variation.

The document provides no formula, trading rules, chart interpretation guidance, or performance evidence, so it does not establish how signals should be acted on or whether the smoothing improves decisions. It identifies the indicator as a port of an older MQL4 implementation, first published in 2007. Traders would need to consult the implementation and test it on their own instruments and timeframes before drawing conclusions.

Key ideas

• The indicator applies a Laguerre filter to rate of change and displays the result as a colored histogram.
• Its inputs include a period, smoothing factor, and overbought and oversold thresholds.
• Threshold appearance and horizontal indicator shift can also be configured.
• The document gives no signal rules or evidence of trading performance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.