Laguerre filter - no gamma
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Laguerre filter - no gamma
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
Basics :
Laguerre filter was described long time ago by John Ehlers in the "Time Warp - without Space Travel" document. It is not used a lot probably due to one "cryptic" parameter that is used " the "gamma" parameter. That parameter is the dumping factor of the low pass EMA filter. As you can see, it is clear why it is not widely understood what it does
the calculation period
calculation period does not need to be integer
you can use fractional calculation periods (just for the sake of experimenting use period 1.5, for example, and see how a very fast filter can still produce smooth results)
the price (the usual set of prices)
Usage :
It period is made to "mimic" averages fairly well. Since this indicator is producing very smooth results (even for very short periods) it is a rather useful indicator.You can use color changes as signals
