3c_JRSX_H_v3
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This technical indicator is designed to provide traders with a smoother, more refined perspective on market momentum compared to traditional oscillators. While it functions similarly to the well-known Relative Strength Index (RSI), it utilizes advanced mathematical smoothing to reduce "noise" and provide a cleaner visual representation of price action.
Core Logic and Behavior
The script functions by analyzing price movements over a specific period (defined by the length parameter). Its primary goal is to identify the strength and direction of momentum while filtering out the erratic fluctuations that often cause false signals in standard indicators.
1. Advanced Smoothing Mechanism Instead of using simple averages, the logic employs a sophisticated weighting system. It calculates a series of internal values based on the difference between consecutive closing prices. By layering these calculations—effectively "smoothing the smooth"—the indicator produces a curve that is less prone to sudden, jagged spikes. This helps traders identify the underlying trend more clearly.
2. Dual-Component Analysis The script tracks two distinct types of movement:
- Directional Change: It monitors how much the price moves in a specific direction.
- Magnitude of Change: It simultaneously tracks the absolute intensity of those movements. By comparing these two components, the indicator can distinguish between a strong, sustained trend and a weak, volatile oscillation.
3. Normalized Momentum Scaling The raw data is processed into a normalized scale (typically centered around a neutral point). If the momentum is positive, the indicator reflects an upward bias; if negative, it reflects a downward bias. If there is no significant movement, the indicator returns to a neutral baseline.
4. Three-Color Visual Coding One of the unique features of this script is its "Three Color" logic. Rather than just showing a single line or bar, the indicator categorizes the momentum into three distinct states:
- Upward Momentum: Represented by one color (Blue), indicating a positive trend.
- Downward Momentum: Represented by a second color (Magenta), indicating a negative trend.
- Neutral/Stable State: Represented by a third color (Gray), identifying periods where the momentum is flat or transitioning.
Summary for the User
In practical terms, this tool helps you see "the big picture" of market velocity. Because it uses more advanced algorithms than standard oscillators, it is designed to stay "smoother." For a trader, this means the indicator is less likely to flicker back and forth rapidly during Choppy markets, making it easier to identify when a real trend is forming versus just temporary market noise.
//+------------------------------------------------------------------+
//| |
//| Copyright © 2000-2007, MetaQuotes Software Corp. |
//| http://www.metaquotes.ru |
//+------------------------------------------------------------------+
/* Ïî ñâîèì ñâîéñòâàì ýòîò èíäèêàòîð àáñîëþòíî àíàëîãè÷åí êëàññè÷åñêèì
îñöèëÿòîðàì è ê íåìó ïðèìåíèìû àáñîëþòíî òå æå ïðè¸ìû òåõàíàëèçà, ÷òî è
ê RSI. Òîëüêî áëàãîäàðÿ èñïîëüçîâàíèþ áîëåå ñîâåðøåííûõ àëãîðèòìîâ ñãëà-
æèâàíèÿ îí èìååò ìåíüøåå çàïàçäûâàíèå è áîëåå ãëàêóþ ôîðìó êðèâîé.
*/
//+------------------------------------------------------------------+
//| 3c_JRSX_H.mq4 |
//| JRSX: Copyright © 2005, Weld, Jurik Research |
//| http://weld.torguem.net |
//| MQL4+3color: Copyright © 2005, Nikolay Kositsin |
//| Khabarovsk, violet@mail.kht.ru |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, Weld, Jurik Research"
#property link " http://weld.torguem.net"
//----
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_color1 Blue
#property indicator_color2 Magenta
#property indicator_color3 Gray
#property indicator_level1 0.5
#property indicator_level2 -0.5
#property indicator_level3 0.0
#property indicator_maximum 1
#property indicator_minimum -1
//---- input parameters
extern int Lengh=14;
extern int CountBars=300;
//---- buffers
double JRSX_Up [];
double JRSX_Down[];
double JRSX_St [];
//----
int shift,r,w,k,counted_bars,T0,T1,Tnew;
//----
double v4,v8,v10,v14,v18,v20,v0C,v1C,v8A,minuse;
double F28,F30,F38,F40,F48,F50,F58,F60,F68,F70,F78,F80,JRSX;
double f0,f28,f30,f38,f40,f48,f50,f58,f60,f68,f70,f78,f80,Kg,Hg;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_HISTOGRAM, STYLE_SOLID);
SetIndexStyle(1,DRAW_HISTOGRAM, STYLE_SOLID);
SetIndexStyle(2,DRAW_HISTOGRAM, STYLE_SOLID);
//----
SetIndexBuffer(0,JRSX_Up);
SetIndexBuffer(1,JRSX_Down);
SetIndexBuffer(2,JRSX_St);
//----
IndicatorShortName("RSX("+Lengh+")");
//----
SetIndexDrawBegin(0,Bars-CountBars);
SetIndexDrawBegin(1,Bars-CountBars);
SetIndexDrawBegin(2,Bars-CountBars);
IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS));
//----
if (Lengh-1>=5) w=Lengh-1; else w=5; Kg=3/(Lengh+2.0); Hg=1.0-Kg;
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int start()
{
counted_bars=IndicatorCounted();
if (counted_bars<0) return(-1);
if (counted_bars>Lengh) shift=Bars-counted_bars-1;
else shift=Bars-Lengh-1;
//----
Tnew=Time[shift+1];
//---- âîññòàíîâëåíèå ïåðåìåííûõ -------
if((Tnew!=T0)&&(shift<Bars-Lengh-1))
{
if (Tnew==T1)
{
f28=F28; f30=F30; f38=F38; f40=F40; f48=F48; f50=F50;
f58=F58; f60=F60; f68=F68; f70=F70; f78=F78; f80=F80;
} else return(-1);
}
//----
if (Lengh-1>=5)w=Lengh-1;else w=5; Kg=3/(Lengh+2.0); Hg=1.0-Kg;
while(shift>=0)
{
//+-------------------+
if (r==0){r=1; k=0;}
else
{
//----
if (r>=w) r=w+1; else r=r+1;
v8=Close[shift]-Close[shift+1]; v8A=MathAbs(v8);
//---- âû÷èñëåíèå V14 ------
f28=Hg * f28 + Kg * v8;
f30=Kg * f28 + Hg * f30;
v0C=1.5 * f28 - 0.5 * f30;
f38=Hg * f38 + Kg * v0C;
f40=Kg * f38 + Hg * f40;
v10=1.5 * f38 - 0.5 * f40;
f48=Hg * f48 + Kg * v10;
f50=Kg * f48 + Hg * f50;
v14=1.5 * f48 - 0.5 * f50;
//---- âû÷èñëåíèå V20 ------
f58=Hg * f58 + Kg * v8A;
f60=Kg * f58 + Hg * f60;
v18=1.5 * f58 - 0.5 * f60;
f68=Hg * f68 + Kg * v18;
f70=Kg * f68 + Hg * f70;
v1C=1.5 * f68 - 0.5 * f70;
f78=Hg * f78 + Kg * v1C;
f80=Kg * f78 + Hg * f80;
v20=1.5 * f78 - 0.5 * f80;
//----
if ((r<=w) && (v8!= 0)) k=1;
if ((r==w) && (k==0)) r=0;
}//-----
if ((r>w)&&(v20>0.0000000001)){v4=(v14/v20+1.0)*50.0;if(v4>100.0)v4=100.0;if(v4<0.0)v4=0.0;}else v4=50.0;
JRSX=(v4/50)-1;
//---- Ñîõðàíåíèå ïåðåìåííûõ ------
if (shift==1)
{
T1=Time[1];T0=Time[0];
F28=f28; F30=f30; F38=f38; F40=f40; F48=f48; F50=f50;
F58=f58; F60=f60; F68=f68; F70=f70; F78=f78; F80=f80;
}
//---- Three Colour code -------
minuse=JRSX - JRSX_Up[shift+1]-JRSX_Down[shift+1]-JRSX_St[shift+1];
JRSX_Up[shift]=0.0;JRSX_Down[shift]=0.0;JRSX_St[shift]=0.0;
if (minuse>0.0)JRSX_Up[shift]=JRSX;else{if (minuse<0.0)JRSX_Down[shift]=JRSX;else JRSX_St[shift]=JRSX;}
//----
shift--;
}
//+-------------------+
return(0);
}
//+------------------------------------------------------------------+
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