Understanding the RJTX_Matches Indicator for MetaTrader 5

Real Author: Rafael Jimenez Tocino

If you’re on the lookout for a tool to pinpoint trend beginnings and endings, the RJTX_Matches indicator for MetaTrader 5 could be just what you need. This nifty little indicator utilizes the slope of its 'matches' lines and their color to give you a clearer picture of price trends.

The slope of these lines reflects the trend's strength, helping you determine whether the trend is likely to continue or if it’s time to brace for a potential reversal.

Each match represents a line connecting the open price of one bar to the close price of the next. Unlike the original version, this modified indicator allows you to set the distance between the opening and closing prices over multiple bars, based on an input parameter. Here’s a peek at the code:

//+----------------------------------------------+
//| Indicator input parameters                    |
//+----------------------------------------------+
input uint iPeriod=10;

This flexibility makes the indicator a fantastic choice for various trading styles, especially for those who prefer intraday strategies like scalping or swing trading on smaller timeframes (M1/H1).

Originally crafted in MQL4, this indicator first made its debut in the Code Base on December 23, 2015.

Figure 1. The RJTX_Matches indicator

Understanding the RJTX_Matches Indicator for MetaTrader 5

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