Understanding the RJTX_Matches_Smoothed Indicator for MetaTrader 5

Author: Rafael Jimenez Tocino

If you're on the hunt for an effective way to identify trend reversals, the RJTX_Matches_Smoothed indicator might just be your new best friend. This nifty tool helps you pinpoint when trends start and end by analyzing the slope of the "matches" lines and their head colors.

The slope represents the evolution of the price trend, giving you a clear indication of its strength. This can be a game-changer, as it helps you decide whether to ride the trend or prepare for a potential shift in direction.

Each match in the indicator signifies a line between the smoothed opening price of a bar and the smoothed closing price of the next bar. Unlike the original version, this indicator allows you to set the distance between the opening and closing prices over multiple bars, determined by the input parameter:

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

This flexibility makes the RJTX_Matches_Smoothed indicator incredibly versatile. The averaging of the time series helps reduce noise, making it a great fit for intraday trading styles like scalping and swing trading, particularly on smaller timeframes (M1/H1).

To get started, you'll need to use the SmoothAlgorithms.mqh library classes. Make sure to copy this to your <terminal_data_folder>\MQL5\Include directory. For a detailed understanding of how to use these classes, check out the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

This indicator was originally developed in MQL4 and made its debut on the Code Base back on December 23, 2015.

Figure 1. The RJTX_Matches_Smoothed indicator

Understanding the RJTX_Matches_Smoothed Indicator for MetaTrader 5

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