Originally Posted by Laguerre Indicator

//+------------------------------------------------------------------+
//| Laguerre RSI.mq4 |
//| Copyright © 2005, David W. Thomas |
//| mailto:davidwt@usa.net |
//+------------------------------------------------------------------+
// based on http://www.mesasoftware.com/TimeWarp.doc.
#property copyright "Copyright © 2005, David W. Thomas"
#property link "mailto:davidwt@usa.net"

#property indicator_separate_window
#property indicator_level2 0.75
#property indicator_level3 0.45
#property indicator_level4 0.15
#property indicator_levelcolor DimGray
#property indicator_color1 Lime
#property indicator_color2 Red



#property indicator_minimum -1
#property indicator_maximum 1
#property indicator_buffers 1

//---- input parameters
extern double gamma=0.7;
extern color HistColor = Lime;



//---- buffers
double RSI[];
double L0[];
double L1[];
double L2[];
double L3[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
IndicatorBuffers(5);
//---- indicators

SetIndexDrawBegin(0, 1);
SetIndexDrawBegin(5, 1);
SetIndexStyle(0,DRAW_HISTOGRAM,STYLE_SOLID,3,HistC olor);
SetIndexLabel(0, "Laguerre RSI");
SetIndexEmptyValue(0, -0.01);
SetIndexBuffer(0, RSI);
SetIndexBuffer(1, L0);
SetIndexBuffer(2, L1);
SetIndexBuffer(3, L2);
SetIndexBuffer(4, L3);
//----
string short_name="LaguerreRSI(" + DoubleToStr(gamma, 2) + ")";
IndicatorShortName(short_name);


return(0);
}

//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
return(0);
}

//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int limit;
int counted_bars = IndicatorCounted();
double CU, CD;
//---- last counted bar will be recounted
if (counted_bars>0)
counted_bars--;
else
counted_bars = 1;
limit = Bars - counted_bars;
//---- computations for RSI
for (int i=limit; i>=0; i--)
{
L0[i] = (1.0 - gamma)*Close[i] + gamma*L0[i+1];
L1[i] = -gamma*L0[i] + L0[i+1] + gamma*L1[i+1];
L2[i] = -gamma*L1[i] + L1[i+1] + gamma*L2[i+1];
L3[i] = -gamma*L2[i] + L2[i+1] + gamma*L3[i+1];
//Print(i," Close[i]=",Close[i],", (1.0 - gamma)*Close[i]=",(1.0 - gamma)*Close[i],", gamma*L0[i+1]=",gamma*L0[i+1]);
//Print(i," L0=",L0[i],",L1=",L1[i],",L2=",L2[i],",L3=",L3[i]);

CU = 0;
CD = 0;
if (L0[i] >= L1[i])
CU = L0[i] - L1[i];
else
CD = L1[i] - L0[i];
if (L1[i] >= L2[i])
CU = CU + L1[i] - L2[i];
else
CD = CD + L2[i] - L1[i];
if (L2[i] >= L3[i])
CU = CU + L2[i] - L3[i];
else
CD = CD + L3[i] - L2[i];

if (CU + CD != 0)
RSI[i] = CU / (CU + CD);

if (RSI[i] > 0.45)
{
color HistColor = Lime;
}

if (RSI[i] <= 0.45)
{
color HistColor = Red;
RSI[i] = RSI[i] - RSI[i] - RSI[i];
}

}
return(0);
}
//+------------------------------------------------------------------+