laguerre filter - no gamma
Info
The laguerre filter - no gamma is a Indicator for MetaTrader 5 that 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.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install 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.
What this tool does
basics : laguerre filter was described long time ago by john ehlers in the "time warp - without space travel" document.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Alpha Beta Trend Filter with Multi-Timeframe Matrix Dashboard - another powerful indicator for MetaTrader 5 traders.
Also recommended: institutional kalman filter: dynamic true price estimation - similar indicator with strong performance on MetaTrader 5.
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
You may also like: macd institutional: high-volume activity filter - excellent alternative for indicator users on MetaTrader 5.
Source Code
/.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.