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Using the Laguerre Indicator for Trend Signals in MT4 and MT5

Article MQL5 code base
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Summary

The document describes a custom Laguerre indicator for MetaTrader 4 and 5. It plots a weighted trend line in a separate chart window and is presented as a possible source of simple entry and exit signals. It does not depend on the platforms’ standard indicators.

Two settings control its calculation: Gamma adjusts the line’s smoothness, with higher values producing a smoother line, and CountBars limits how many historical bars are calculated. The description gives default settings but no formula, trading rules for interpreting the line, performance evidence, or examples. Users would need to determine signal interpretation and test the indicator in their own market and timeframe; the document does not establish that its signals are profitable.

Key ideas

  • The custom Laguerre indicator displays a weighted trend line in a separate chart window.
  • It is available for both MetaTrader 4 and MetaTrader 5.
  • The document presents the line as a potential source of simple entry and exit signals.
  • Increasing Gamma makes the displayed line smoother.
  • CountBars sets the maximum historical bars used in the calculation.

Tags

Technical indicators

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