The Laguerre Filter indicator is a powerful and popular tool used by Forex traders. It is a free indicator available for the MetaTrader 4 (MT4) platform. It is useful for analyzing the price action of currency pairs and other assets. The Laguerre Filter indicator uses a combination of two different filters to identify changes in price direction. The first filter is the Laguerre RSI, which is based on the Relative Strength Index (RSI). It is used to identify overbought and oversold levels in the market. The second filter is the Laguerre Gamma, which is a trend-following indicator. It is used to identify the direction of the trend. The Laguerre Filter indicator is a useful tool for traders looking to identify changes in price direction and to make informed trading decisions. It is a popular and free indicator available for the MT4 platform, and can be used to analyze the price action of currency pairs and other assets.
The Laguerre Filter indicator is a popular and free Forex indicator for MT4 that is useful for traders of all levels. The indicator works by calculating the difference between the current price and the weighted average of the previous prices. If the difference is greater than a certain threshold, then it can be used to indicate a potential trading opportunity. It is a popular tool among Forex traders as it can help to identify potential trading opportunities quickly and accurately.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.