ColorJJRSX - indicator for MetaTrader 5

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".

Fig.1 The ColorJJRSX indicator