Laguerre RSI Alert Indicator

Laguerre RSI Alert Indicator

Laguerre RSI alert indicator for MT4 is a forex trading tool that delivers accurate buy/sell signals using a synergy of the Laguerre and RSI indicators.

The Laguerre RSI Alert indicator for MetaTrader 4 is a trend-following technical tool built with the Laguerre and the RSI indicators. It essentially analyzes the financial market with a synergy of the two indicators (Laguerre and the RSI) to deliver a more accurate trend direction plus optimal entry/exit zones.

How Do You Read RSI Laguerre?
The indicator oscillates within a window that ranges between 0.15 – 0.85 level. It delivers a buy signal when the RSI crosses above (depicted with a lime dot) the 0.15 level to the upside, while a sell signal is triggered when the RSI crosses below (depicted with an orange dot) the 0.85 level to the downside. Conversely, the 0.15 and 0.85 zones are designated as oversold/overbought zones, respectively.

Furthermore, the indicator is ideal for scalpers and day/intraday forex traders to identify trading opportunities. Nonetheless, it is recommended to be used along with price action/other technical tools as a confluence for better efficiency.

How to Trade With the Laguerre RSI Alert Indicator

The above image depicts the action of the indicator on the EURUSD currency pair in the M30 timeframe. It illustrates how a sell signal was generated using the indicator and price action.

The image shows that the indicator painted a sell signal (RSI below 0.85), which suggests a potential bearish move. Furthermore, the price retested and was visibly rejected (wick) at the supply zone, which confirms the sell signal/entry.

Conclusion
The Laguerre RSI Indicator for MT4 is a trading tool that uses the Laguerre and RSI to define the trend direction and the potential reversal zone of the price. Finally, it is free to download.