lime = positive rising
green = positive descending
red = positive descending
maroon = positive rising
The Laguerre Filter is a smoothing filter based on Laguerre polynomials.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.