RJTX_Matches_Smoothed - MetaTrader 5 Script - MT4/MT5 Resources

Rafael Jimenez Tocino

This indicator helps determine the beginning and end of a trend based on the slope of the "match" line and the color of its head.

The slope of these lines shows the evolution of the price trend. This shows the strength of the trend, whether it is continuing, or whether we need to be prepared for a change in direction.

Each match represents a line between the smoothed open price of one bar and the smoothed close price of the next bar. Contrary to the author's version, in this indicator the distance between the opening and closing prices is not a single bar, but the number of bars, the distance of which is determined by the input parameters of the indicator:

 //+------------------------------------------------------------------------+
//|Indicator input parameters |
//+------------------------------------------------------------------------+
Input unit i period = 10 ;

This makes the indicator even more versatile. Time series are averaged to reduce noise. This option is suitable for intraday trading (scalping, swings) on a small time frame (M1/H1).

The indicator uses SmoothAlgorithms.mqh library class (copy it to \MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

The indicator was originally written in MQL4 and first published in the code base on December 23, 2015.

Figure 1. RJTX_Matches_Smoothed indicator

Attachment download

📎 smoothalgorithms.mqh (130.19 KB)

📎 RJTX_Matches_Smoothed.mq5 (10.95 KB)

Source: MQL5 #14739