Laguerre RSI

Author: Optuma Team Last updated: Aug 8, 2022 11:31

Overview

The Laguerre Filter RSI (LFRSI) was created by John Ehlers. It applies the simple RSI calculation to the result of the Laguerre Filter (see the Laguerre Filter indicator for more information). Note that the excursions of the RSI are typically lock-to-lock and that the recovery is rapid at each major price reversal. A typical use of the Laguerre RSI is to buy after the line crosses back over the 20% level and sell after the price crosses back down over the 80% level. Of course, just as with the conventional RSI, more elaborate trading rules can be created.

EhLRSI1

To add the tool to your chart, select the tool from the Ehlers tool group, and left-click on the chart to add the tool. Optuma will then draw the tool in a window below the chart using the default settings.

Actions & Properties

Actions

EhLRSI2

Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.

Add to Toolbar: Adds the selected tool to your custom toolbar.

Apply Settings to All: When multiple Laguerre RSI tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Laguerre RSI tools in the chart, page or entire workbook to be updated instantly.

Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.

Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.

Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.

Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.

Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Laguerre RSI to a chart, the tool will display using the new settings.

Delete: Deletes the tool from the chart.

Properties

EhLRSI3

Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.

Gamma: Allows you to adjust the factor used to tune how much feedback is added to the result.

Bars: Allows you to increase or decrease the number of bars that are used in the calculation.

Buy Level: Allows you to adjust the value of the Buy line on the tools window (20 by default).

Sell Level: Allows you to adjust the value of the Sell line on the tools window (80 by default).

Level Style: The Line Style property allows you to adjust the type of the line displayed. There are 8 options available:** Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.

Plot - Allows you to change how the Laguerre RSI is displayed on your chart. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.

Offset: Moves the tool forward or backwards in time. The offset is measured in bars, so a value of 2 will push the tool forward 2 bars and -2 will move the tool back 2 bars.

Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.

Visible: Un-tick this checkbox to hide the tool from the chart.

Show In Price Scale: When selected the current Laguerre RSI value will be displayed in the Price Scale.

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