The Adaptive Laguerre Filter Forex indicator for Metatrader 5 is based on the popular Laquerre indicator and delivers trade entry and exit signals.
After loading the indicator to the chart, it appears as a blue and brown colored line.
Generally speaking, a blue line is bullish while a brown line bearish.
The indicator is solid, non-repaint, and will not slow down your trading platform.
The Adaptive Laguerre Filter indicator for MT5 performs the best when used together with trend indicators.
- Based on the Laguerre oscillator
- Works for any currency pair
- Works for any time frame
- Programmed for Metatrader 5
The image below shows the Adaptive Laguerre Filter indicator attached to the GBP/JPY 5-minute trading chart.
The Adaptive Laguerre Filter indicator for MT5 can be used in multiple ways, find a basic trading example below:
- Open a buy trade when the blue Adaptive Laguerre signal line appears on the chart and the overall trend is upward.
- Place your stop loss 3 pips below the most recent swing low price.
- Exit the buy trade when a sell trading signal occurs on the chart.
- Open a sell trade when the brown Adaptive Laguerre signal line appears on the chart and the overall trend is downward.
- Place your stop loss 3 pips above the most recent swing high price.
- Exit the sell trade when a buy trading signal occurs on the chart.
How to install the Adaptive Laguerre Filter Forex indicator in Metatrader 5?
- Copy the Adaptive_Laguerre_filter_2 indicator file in the MT5 indicator folder
- Restart the trading platform
- Select and attach the indicator to any chart of your preference
How to remove the indicator from the chart?
- Click with your right mouse button in the chart
- Select the indicator list from the dropdown menu
- Remove the indicator from the list
- Press close
Make yourself familiar with this trading indicator and fully understand how it works before using it in a real account.