XMA JJRSX System – indicator for MetaTrader 5

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This indicator provides alerts and signals for making deals using large colored dots and arrows on a chart.

The indicator is based on comparing the signals of JJRSX oscillator and XMA moving average working on different timeframes – the current (chart timeframe) and the higher ones respectively.
For the colored arrows XMA indicator trading signals from the higher timeframe are transferred, while trend reversal signals of JJRSX oscillator are transferred from the current timeframe. For colored dots trend reversal signals from XMA indicator are analyzed. Colored arrows are signals for the market entry, while colored dots are signals for the market exit.

For example, if the lime colored up arrow appears, then a long position must be opened. As soon as the red dot appears, this position must be closed. The same procedure is used for short positions, though the magenta arrow and the green dot are applied. It is possible to open and close positions by the signals from colored dots, while using colored arrows for adding to already existing positions.

Smoothing algorithm can be changed for XMA moving average:

  1. SMA – simple moving average;
  2. EMA – exponential moving average;
  3. SMMA – smoothed moving average;
  4. LWMA – linear weighted moving average;
  5. JJMA – JMA adaptive average;
  6. JurX – ultralinear smoothing;
  7. ParMA – parabolic smoothing;
  8. T3 – Tillson’s multiple exponential smoothing;
  9. VIDYA – smoothing with the use of Tushar Chande’s algorithm;
  10. ¬†AMA – smoothing with the use of Perry Kaufman’s algorithm.

It should be noted that Phase parameter has completely different meaning for different smoothing algorithms. For JMA it is an external Phase variable changing from -100 to +100. For T3 it is a smoothing ratio multiplied by 100 for better visualization, for VIDYA it is a CMO oscillator period and for AMA it is a slow EMA period. In other algorithms these parameters do not affect smoothing. For AMA fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power is also equal to 2 for AMA.

Compiled files of XMA and JJRSX indicators must be placed to the terminal_data_folder\MQL5\Indicators\. The indicators use SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.

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XMA JJRSX System – indicator for MetaTrader 5

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