XMA JJRSX System - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

This indicator uses large colored dots and arrows on the chart to provide alerts and signals for placing trades.

The indicator is based on comparing the signals Jinjiang Shanxi Oscillator and XMA Moving Average working on different time frames - respectively the current (chart time frame) and the higher time frame.

For example, if a stone gray upward arrow appears, a long position must be opened. Once the red dot appears, the position must be closed. The same procedure works for short positions, but with magenta arrows and green dots applied. Positions can be opened and closed via signals from colored points, while adding to existing positions using colored arrows.

It is possible to change the smoothing algorithm of the XMA Moving Average:

It should be noted that the Phase parameter has completely different meanings for different smoothing algorithms. For JMA, it is an external phase variable that varies from -100 to +100. For T3, it is the smoothed ratio multiplied by 100 for better visualization; for VIDYA, it is the CMO oscillation period; for AMA, it is the slow EMA period. In other algorithms, these parameters do not affect smoothing. For AMA the fast EMA period is a fixed value, equal to 2 by default. For AMA, the ratio of raised powers is also equal to 2.

Compiled files of XMA and JJRSX indicators must be placed in terminal_data_folder\MQL5\Indicators\. The indicator uses the SmoothAlgorithms.mqh library class (must be copied to terminal_data_folder\MQL5\Include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.

Indicator input parameters:

Indicator input parameters are divided into three groups. Display parameters of the indicator itself, XMA and JJRSX indicator parameters:

Attachment download

📎 jjrsx.mq5 (7.48 KB)

📎 xma.mq5 (7.07 KB)

📎 xma_jjrsx_system.mq5 (13.86 KB)

📎 smoothalgorithms.mqh (133.8 KB)

Source: MQL5 #574