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

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

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

Ehlers Laguerre RSI Forex Technical Analysis Signals

Developed by John Ehlers.

Originally used to trade stocks and 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 Ehlers 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 technical indicator is damping gamma factor, usually 0.5 to 0.85, to best suit your trading method.

Ehlers Laguerre Relative Strength Index - Forex Ehlers Laguerre RSI EA Setup

Forex Technical Analysis & How to Generate Signals

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

Forex Crossover FX Signals

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

Sell FX Signal- A sell trading signal is generated when Ehlers RSI crosses below 50 level Mark.

Oversold/Overbought Levels - Forex Ehlers 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.