RJTX_Matches - MetaTrader 5 Script | Forex Indicator Download - 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 opening price of one bar and the closing 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. This option is suitable for intraday trading (scalping, swings) on a small time frame (M1/H1).

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

Figure 1. RJTX_Matches indicator

Attachment download

📎 rjtx_matches.mq5 (8.65 KB)

Source: MQL5 #14722

RJTX_Matches - Important points before using MetaTrader 5 script

This page has been supplemented with structured instructions, focusing on the purpose of trading scripts, MT4/MT5 platform compatibility, testing procedures and risk control. Before downloading or deploying, it is recommended to first determine whether it is consistent with your own variety, cycle and account environment.

Suitable for who to use

• Users who want to quickly screen trading scripts and are willing to do simulation verification first.
• People who need to compare MT4/MT5 EAs, indicators, scripts or source code projects.
• Traders who wish to record backtests, parameters and risk boundaries before placing a trade.

Testing and risk control suggestions

• First verify the default parameters in the strategy tester or demo account, and then adjust the symbol, period, spread and trading period one by one.
• Scalping, grid, martin, and high-frequency strategies should focus on observing maximum drawdowns, consecutive losses, slippage, and trading frequency.
• It is not recommended to run any document directly on the real disk. At least observe the simulated disk performance for 2-4 weeks first.

FAQ

Can MT4 and MT5 be used interchangeably?
Usually cannot be used directly. EX4/MQ4 corresponds to MT4, EX5/MQ5 corresponds to MT5, and the source code needs to be compiled in the corresponding MetaEditor.

Is this resource guaranteed to be profitable?
cannot. EAs, indicators and scripts can only be used as trading tools, and the results depend on parameters, market environment, spreads, slippage and risk control.

What else can I continue to watch?
Forex EA download , foreign exchange indicator download , EA evaluation , MQL5 CodeBase .

English Search Notes

This page is also optimized for English search intent around RJTX_Matches - MetaTrader 5 script . Related search terms include: trading script, MT4 script, MT5 script. Test any Forex EA, Expert Advisor, MT4/MT5 indicator, script or MQL source code with historical data and a demo account before live trading.