Smoother Relative Strength Index in which alternative algorithms of averaging such as JMA and ultralinear are used that let this indicator be more predictable.
The trend direction is defined by the color of the indicator. Strong trends color the histogram in lettuce green or red color, weak – in brown and green colors. Trend strength is defined by the histogram bar value relative to the HighLevel and the LowLevel breakthrough levels in the indicator input parameters.
Indicator input parameters:
//+-----------------------------------+ //| Indicator input parameters | //+-----------------------------------+ input uint JurXPeriod=8; // JurX period input uint JMAPeriod=3; // JMA period input int JMAPhase=100; // JMA averaging parameter input Applied_price_ IPC=PRICE_CLOSE; // Price constant input int Shift=0; // Horizontal shift of the indicator in bars input IndStyle Style=COLOR_HISTOGRAM; // Style of JJRSX display input int HighLevel=+20; // Upper level of triggering input int MiddleLevel=0; // Medium of the range input int LowLevel=-20; // Lower level of triggering
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.
MT5 Indicator – Download Instructions
ColorJJRSX is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
ColorJJRSX provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install ColorJJRSX.mq5?
- Download ColorJJRSX.mq5
- Copy ColorJJRSX.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on ColorJJRSX.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator ColorJJRSX.mq5 is available on your Chart
How to remove ColorJJRSX.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: