Free Forex Indicators (MT4), Trend Following Indicators

Laguerre Indicator for MT4

The Laguerre Indicator delivers ultimate overbought/oversold signals that help you determine the timings and levels for swing trade entries.

This indicator mainly works in range-bound markets. Whenever the price gets closer to the daily price ranges, it signals whether the market has turned overbought or oversold. When the signal matches the price position, we pull the trigger.

Laguerre Indicator For MT4 Overview

The Laguerre Indicator works in all timeframes in MT4. However, according to our observation, the indicator seemed much balanced with signal accuracies when applied in between 15 and 30-minute charts.

Laguerre Indicator overview

Furthermore, it ideally suits forex and stock day traders. Besides, you can fit it into any short-term trading strategy.

Laguerre Indicator for MT4 Explanation

The Laguerre Indicator’s signal curve ranges from 0 to 1 for demonstrating the OB/OS conditions. The signal curve drops to zero when the price turns oversold following a massive bearish correction.

Laguerre Indicator explanation

So, the indicator value swings upwards from the zero level means the market has an intention to initiate a bullish move from the current price level.

When the Laguerre value reaches 1, we consider it as an overbought market. The indicator usually generates overbought signals when the price fails to break above its recent highs and intends to move south.

Since the Laguerre Indicator doesn’t throw a direct buy/sell signal, it is crucial to assess the price levels correctly before considering an entry.

Also read: Exness Review – Is it The Best Forex Broker?

Laguerre Indicator for MT4: Buy Conditions

Laguerre Indicator buy signal
  • The price rebounds from its recent low or rejects a support
  • The Laguerre value starts moving upwards from zero level
  • Exit long when the value turns lower than 1 after hitting the overbought zone

Laguerre Indicator for MT4: Sell Condition

Laguerre Indicator sell signal
  • The price fails to break above its recent high or a resistance
  • The Laguerre curve hits the overbought level then starts moving downwards
  • Exit short once the indicator line rebounds higher from the oversold zone

I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

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Trend Following System's goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money.

Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.
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