Forex Ehler Laguerre RSI Expert Advisor Setup - Setting Up Ehler Laguerre RSI Expert Advisor

Forex Ehler Laguerre RSI Expert Advisor Setup - Setting Up Ehler Laguerre RSI Expert Advisor - A trader can come up with an Ehler Laguerre RSI Expert Advisor based on the Ehler Laguerre RSI indicator explained below.

Forex Ehler Laguerre RSI Expert Advisor rules can be combined with other indicators to come up with other Expert Advisor Bots that trade using rules based on two or more indicators combined to form a system.

Ehlers Laguerre RSI Technical Analysis Signals

Created by John Ehler.

Originally used to trade stocks & commodities.

Ehlers RSI uses a 4-Element Laguerre filter to provide a "time distort" such that the low frequency components/price spikes are delayed much more than the higher frequency components. This indicator enables much smoother filters to be created using short amounts of data.

The Ehler RSI uses a scale of 0- 100, the center line is used to generate Forex signals & the 80/20 levels represents overbought-oversold areas.

The only parameter which can be optimized for this trading indicator is damping gamma factor, usually 0.5 to 0.85, to best suit your method.

Ehler Laguerre Relative Strength Index - Ehler Laguerre RSI Expert Advisor Setup

Technical Analysis and How to Generate Signals

This implementation of the Laguerre RSI uses scale of 0-100.

Forex Crossover Signals

Buy Forex Signal- A buy signal gets generated when the Ehlers RSI crosses above 50 level Mark.

Sell Signal- A sell signal gets generated when Ehler RSI crosses below 50 level Mark.

Oversold/Overbought Levels - Ehler Laguerre RSI Expert Advisor Setup

Oversold/Overbought Levels on Indicator

A typical use of the Laguerre RSI is to buy after it crosses back above the 20 % level & sell after it crosses back below the 80% level.