MA_of_RSX
Download script
This tool is designed to provide traders with a visual representation of momentum and trend direction by layering advanced smoothing techniques over the RSX (Relative Strength Index) indicator. By combining these elements, the script aims to filter out market "noise" and highlight clearer entry or exit points.
Core Functionality
The logic operates through three primary layers:
1. The Base Momentum (RSX) The script first pulls data from the RSX indicator. This serves as the foundation, measuring the strength of price movements over a specific period defined by the user.
2. The Signal Smoothing Layer Instead of looking at the raw RSX data alone—which can often be volatile and jump around quickly—the script applies a Moving Average to that data. You can choose between several different types of averages (Simple, Exponential, Smoothed, or Linear Weighted). This creates a "Signal Line," which acts as a secondary guide to identify the overall direction of the momentum.
3. Trend Visualization and Cross Detection The primary purpose of this script is to automatically detect when the base momentum line crosses over the signal line. The logic monitors these intersections in real-time:
- Bullish Signals: When the momentum line crosses above the signal line, the script identifies a potential upward shift in trend.
- Bearish Signals: When the momentum line crosses below the signal line, it identifies a potential downward shift.
Visual Interface
To make these movements easy to read, the script creates dynamic visual markers:
- Dynamic Shadows: Rather than just showing points, the script draws colored rectangular "shadows" over the background of the indicator window.
- Color Coding: These shadows change color based on the trend—typically using green for bullish momentum and red for bearish momentum.
- Trend Tracking: The script is designed to "drag" these visual blocks as new price data arrives, providing a continuous visual history of the trend movements so that you can see exactly where a shift began and how long it has persisted.
Summary for the User
In simple terms, this tool takes a complex momentum oscillator, smooths it out to remove distractions, and then draws colored zones on your chart to tell you at a glance whether the current market energy is leaning upward or downward.
//+------------------------------------------------------------------+
//| MA of RSX mq4 |
//| Copyright © 2009, Obaidah / GodfreyH |
//+------------------------------------------------------------------+
//---- indicator settings
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_color1 Magenta
#property indicator_color2 Aqua
#property indicator_width1 2
#property indicator_level1 80
#property indicator_level2 50
#property indicator_level3 20
#property indicator_levelcolor RoyalBlue
#property indicator_levelwidth 2
//---- indicator parameters
extern int Len = 10;
extern int SignalMA=2;
extern string MAMethod ="0:SMA 1:EMA 2:SMMA 3:LWMA";
extern int MA_Method =0;
extern string aa="String Colors";
extern color Bullish=C'0,106,0';
extern color Bearish=C'157,0,0';
//---- indicator buffers
double ExtMapBuffer[];
double SignalBuffer[];
int Shadow[];
int shift[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- drawing settings
// IndicatorBuffers(2);
SetIndexStyle(0,DRAW_LINE);
SetIndexStyle(1,DRAW_LINE);
SetIndexDrawBegin(0,SignalMA);
SetIndexDrawBegin(1,SignalMA);
IndicatorDigits(Digits+1);
//---- indicator buffers mapping
SetIndexBuffer(0,ExtMapBuffer);
SetIndexBuffer(1,SignalBuffer);
//---- name for DataWindow and indicator subwindow label
IndicatorShortName("RSX("+SignalMA+")");
SetIndexLabel(0,"RSX");
SetIndexLabel(1,"Signal");
//---- initialization done
return(0);
}
int deinit()
{
for(int i = ObjectsTotal() - 1; i >= 0; i--) {
string Label = ObjectName(i);
if(StringSubstr(Label, 0, 8) != "RSXTrend")
continue;
ObjectDelete(Label);
}
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int Window=WindowFind("RSX("+SignalMA+")");
int limit;
int counted_bars=IndicatorCounted();
//---- last counted bar will be recounted
if(counted_bars>0) counted_bars--;
limit=Bars-counted_bars;
//---- RSX counted in the 1-st buffer
for(int i=0; i<limit; i++)
ExtMapBuffer[i]=iCustom(NULL,0,"RSX",Len,0,i);
//---- signal line counted in the 2ND buffer
for(i=0; i<limit; i++)
SignalBuffer[i]=iMAOnArray(ExtMapBuffer,Bars,SignalMA,0,MA_Method,i);
string Label;
int cnt=0;
for(i=limit-1;i>0;i--) {
if(SignalBuffer[i] > ExtMapBuffer[i] && SignalBuffer[i+1] < ExtMapBuffer[i+1]) { // If its a cross point
cnt++; // calculate the number of crosses.
Label="RSXTrend" + cnt;
if(ObjectFind(Label)==-1)
ObjectCreate(Label,OBJ_RECTANGLE,Window,0,0);
ObjectSet(Label,OBJPROP_COLOR,Bearish);
ObjectSet(Label,OBJPROP_PRICE1,100);
ObjectSet(Label,OBJPROP_PRICE2,0);
ObjectSet(Label,OBJPROP_TIME1,Time[i]);
ObjectSet(Label,OBJPROP_TIME2,Time[i-1]);
}
else {
if(SignalBuffer[i] < ExtMapBuffer[i] && SignalBuffer[i+1] > ExtMapBuffer[i+1]) { // If its a cross point
cnt++; // calculate the number of crosses.
Label="RSXTrend" + cnt;
if(ObjectFind(Label)==-1)
ObjectCreate(Label,OBJ_RECTANGLE,Window,0,0);
ObjectSet(Label,OBJPROP_COLOR,Bullish);
ObjectSet(Label,OBJPROP_PRICE1,100);
ObjectSet(Label,OBJPROP_PRICE2,0);
ObjectSet(Label,OBJPROP_TIME1,Time[i]);
ObjectSet(Label,OBJPROP_TIME2,Time[i-1]);
}
else
ObjectSet(Label,OBJPROP_TIME2,Time[i-1]); // drag the current shadow
}
}
return(0);
}
//+------------------------------------------------------------------+
Comments