Laguerre Histogram Indicator

Introduction to the Laguerre Histogram Indicator

The Laguerre Histogram indicator, as the name suggests, displays Laguerre Oscillator signals in a form of the histogram bars, but also in an unusual way. These histogram bars are plotted into some kind of channel.

Generally speaking, green bars represent an oversold market state and opportunity for a long trade (buy). Similarly, red bars represent overbought market stat and opportunity for a short trade (sell).

That indicator is displayed in a separate window placed just below the main trading chart.

It fits all kinds of timeframes and currency pairs.

The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

How to set up the Laguerre Histogram indicator in MT4?

Installation Guide

Copy and paste the laguerre-histogram-indicator.ex4 or laguerre-histogram-indicator.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.

You can gain access to this folder by clicking the top menu options, which goes as follows:

File > Open Data Folder > MQL4 > Indicators (paste here).

Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.