The Laguerre RSI Indicator is a popular, free, and useful Forex indicator for MT4 platforms. It is a technical indicator that helps traders identify price reversals and momentum shifts. By combining the Relative Strength Index (RSI) with the Laguerre filter, the Laguerre RSI indicator is able to detect overbought and oversold levels with greater accuracy than the standard RSI. The Laguerre RSI indicator is composed of two lines, the Laguerre RSI line and the Laguerre signal line. The Laguerre RSI line is the main indicator line which is calculated by applying the Laguerre filter to the RSI. The Laguerre signal line is a smoothed version of the Laguerre RSI line and is used to generate buy and sell signals.
The Laguerre RSI Indicator is a powerful and useful tool for Forex traders. It is available on the MT4 platform and can be used to identify trend reversals, overbought and oversold levels, and potential entry and exit points. The Laguerre RSI Indicator works by combining the Momentum Indicator and the Relative Strength Index to create a more reliable signal. By using the Laguerre RSI Indicator, Forex traders can identify potential opportunities in the Forex market and take advantage of them.
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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.