JRSX
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The RSX is a technical analysis tool designed to measure market momentum, functioning similarly to well-known oscillators like the Relative Strength Index (RSI) or the Stochastic Oscillator. Its primary goal is to help traders identify whether an asset is overbought, oversold, or moving with significant strength.
Core Logic and Performance
While it shares a common purpose with standard oscillators, the RSX distinguishes itself through its internal smoothing logic. It utilizes advanced algorithms to process price data, which results in a curve that is significantly smoother than traditional methods. The key technical advantage here is the reduction of "lag"—the delay between a price movement occurring and the indicator reflecting that move on your chart. By balancing smoothness with responsiveness, it aims to provide a clearer picture of market trends without the erratic "noise" often found in simpler indicators.
How it Processes Data
The indicator works by analyzing the relationship between price changes and their magnitudes:
- Movement Analysis: It calculates the difference between consecutive closing prices to determine the direction and speed of the market.
- Smoothing Mechanism: It applies a specific mathematical weight to these changes. Instead of reacting violently to every small tick, it "smooths" the data over a user-defined period (the Length).
- Dual Component Calculation: The logic separates positive movements from negative movements. It tracks how much "upward" momentum exists versus "downward" momentum, calculating a ratio between the two.
Visual Representation and Interpretation
The RSX output is displayed on a separate window in your trading platform, typically ranging from 0 to 100.
- The Baseline (50): This represents the equilibrium point. When the curve is above 50, it suggests bullish momentum; below 50 suggests bearish momentum.
- Overbought/Oversold Zones: The indicator uses levels (commonly 70 and 30) to signal extreme conditions. When the RSX reaches the upper boundaries, the asset may be stretched to the upside (potentially overbought), and when it hits the lower boundaries, it may be stretched to the downside (potentially oversold).
Summary for Traders
In essence, the RSX is a "refined" oscillator. It takes the reliable logic of momentum trading—identifying where the market is going and how fast it is getting there—and applies a sophisticated smoothing filter. This allows for a cleaner visual experience, helping you spot trend reversals and strength transitions more reliably than standard oscillators might allow.
/* This indicator is absolutely identical to the classical oscillator
and the same with RSI methods of technical analysis may be applicable
to this indicator as well. Because of use more absolute
algorithmes of smoothing this indicator is having lesser
delay and more smoothed curve.
*/
//+SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS+
//| JRSX.mq4 |
//| JRSX: Copyright © 2005, Weld, Jurik Research |
//| http://weld.torguem.net |
//| MQL4: Copyright © 2005, Nikolay Kositsin |
//| Khabarovsk, violet@mail.kht.ru |
//+SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS+
#property copyright "Weld"
#property link "http://weld.torguem.net"
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_color1 Magenta
#property indicator_level1 70
#property indicator_level2 30
#property indicator_level3 50
#property indicator_maximum 100
#property indicator_minimum 0
//---- input parameters
extern int Lengh=14;
//---- buffers
double JRSX_Bufer[];
//----
int shift,r,w,k,Tnew,counted_bars,T0,T1;
//----
double v4,v8,v10,v14,v18,v20,v0C,v1C,v8A;
double F28,F30,F38,F40,F48,F50,F58,F60,F68,F70,F78,F80;
double f0,f28,f30,f38,f40,f48,f50,f58,f60,f68,f70,f78,f80,Kg,Hg;
//+SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS+
//| Custom indicator initialization function |
//+SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,JRSX_Bufer);
IndicatorShortName("RSX("+Lengh+")");
SetIndexEmptyValue(0,50.0);
//----
return(0);
}
//+SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS+
//| Custor indicator deinitialization function |
//+SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS+
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 )) ///0.0000000001=={1.0e-10};
{//...
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_Bufer[shift]=v4;
//+--- 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;
}
//+---+===============================================+
shift--;
}
//+-------------------+
return(0);
}
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