Laguerre indicator - oscillator
Laguerre indicator - is an oscillator developed on the basis of price movement that determines a weighted trend line. The main difference of the Laguerre indicator is that it is based on historical data without using other indicators in the algorithm. This allows for faster calculations and less load on the computer processor.
Laguerre indicator parameters
– gamma (default = 0.7) - is the line smoothing parameter of the Laguerre indicator. The higher the gamma value, the smoother the line will be.
– CountBars (default = 950) - the number of bars used in the calculation of indicator readings. The larger this parameter is, the more accurate the Laguerre readings are. It is important to have enough loaded bars, otherwise the indicator may behave incorrectly.
ForTrader.org comments: Laguerre indicator is used quite often and for a long time by traders in trading and various trading strategies. It is used both on high timeframes and on small timeframes equally effectively, which makes it popular. The main signal of the Laguerre indicator is the exit of the line from the overbought / oversold zones, which are indicated by the lines 0.8 \ 0.2 respectively, or by crossing the midline 0.5.
An unfortunate feature Laguerre indicator is its redrawing on the current bar. Therefore, the signals should be taken into account only after the candle closes.