Laguerre SuperTrend Clouds adds an Adaptive Laguerre averaging algorithm and alerts to the well-known SuperTrend indicator. As the name suggests, Laguerre SuperTrend Clouds (LSC) is a trend indicator that works best in trending (non – volatile) markets.

The SuperTrend indicator is extremely popular for intraday and daily trading and can be used on any timeframe. Embedding the Laguerre equation in this indicator can contribute to more reliable trend detection and smoother filtering. LSC uses an improved version of the adaptive Laguerre equation (which applies Laguerre polynomials of any order) to create SuperTrend Confidence Clouds, which are flexibly adjusted over time. This gives more information about the forces of rising and fading trends.

Place a call order when the price closes above the leading line, and place a put order when the price closes below the leading line. These intersections are highlighted by non-overlapping up/down arrows.

Email, text, and audio alerts can be enabled/disabled for the following events. Please note that before using email alerts, you must specify the email recipient and SMTP data in the settings of MetaTrader 4.

• The price closed above the leading LSC (call) line.
• The price closed below the leading LSC (put) line.

[spoiler title=”Read More…”]

• SuperTrend # Bars used for calculation (default=10) – the number of bars to calculate SuperTrend.
• SuperTrend Multiplier (default=4.0) – a multiplier for calculating the average true range in SuperTrend. A high value = fewer signals, a low value = more signals, but a higher chance of false positives.
• Laguerre Clouds Length (default=10) – the number of bars for calculating Laguerre clouds.

• [opt] Laguerre Clouds Order (default=4) – the order of the Laguerre polynomial [advanced parameter].
• [opt] Adaptive Factor Smoothing Period (default=5) – the smoothing period of the adaptive Gamma Laguerre multiplier [advanced parameter].
• [opt] Adaptive Factor Smoothing Method (default=Median) is a method for averaging the adaptive factor of Gamma Laguerre [advanced parameter].

• Alert when price crosses LSC leading edge-enable alerts when the price crosses the LSC edge, true/false.
• Turn on alerts message-notifications in the pop-up window.
• Turn on alerts sound – sound alerts.
• Turn on alerts email-email alerts.
• Acknowledge alerts warning, disable future alerts – if true, the warnings in the popup window will be disabled.

Laguerre SuperTrend Clouds works best in trending (non-volatile) markets, and therefore works well with the Choppiness Index indicator.

[/spoiler]