The indicator helps to determine the beginning and end of trends on the basis of the slope of the “matches” lines and the color of their heads.
The slope of these lines shows the evolution of the price trend. This shows the strength of the trend, whether it continues, or we need to prepare for a change of the direction.
Each match represents a line between the smoothed open price of a bar and the smoothed close price of the next one. In contrast to the author’s version, in this indicator the distance between the opening price and closing price is not a single bar, but the number of bars, located at a distance determined by the input parameter of the indicator:
//+----------------------------------------------+ //| Indicator input parameters | //+----------------------------------------------+ input uint iPeriod=10;
This makes the indicator more versatile in use. The averaging of the timeseries is done to reduce noises. This option is suitable for intraday trading (scalping, swing) on small timeframes (M1/H1).
The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>MQL5Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.
Originally this indicator has been written in MQL4 and was first published in the Code Base on 23.12.2015.
MT5 Indicator – Download Instructions
RJTX Matches Smoothed Metatrader 5 Indicator is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
RJTX Matches Smoothed Metatrader 5 Indicator 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 RJTX Matches Smoothed Metatrader 5 Indicator.mq5?
- Download RJTX Matches Smoothed Metatrader 5 Indicator.mq5
- Copy RJTX Matches Smoothed Metatrader 5 Indicator.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 RJTX Matches Smoothed Metatrader 5 Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator RJTX Matches Smoothed Metatrader 5 Indicator.mq5 is available on your Chart
How to remove RJTX Matches Smoothed Metatrader 5 Indicator.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:
RJTX Matches Smoothed Metatrader 5 Indicator