Turbo_JRSX_Close
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This technical tool is designed as a specialized momentum and trend-intensity oscillator. It functions by analyzing price action history to determine the strength of a market move, translating complex mathematical fluctuations into a simplified visual scale ranging from 0 to 100.
Core Logic & Mechanics
Data Processing The script works by examining the "Close" prices of assets over a specific timeframe (defined by the user-set length). Rather than looking at a single price point, it calculates the velocity and acceleration of price changes. It tracks how quickly the market is moving in a specific direction compared to its recent average behavior.
Smoothing and Weighting To filter out "market noise" (minor, insignificant price flickers), the logic employs a series of multi-layered calculations. It takes the difference between the current price and previous prices and applies weighted averages. This creates a smoothing effect that allows the indicator to identify the underlying trend while remaining responsive enough to capture significant shifts in momentum.
Trend Intensity Calculation The tool focuses heavily on the relationship between different layers of these smoothed averages. By comparing these various layers, the script determines the "velocity" of the trend. If the price is moving strongly and consistently, the indicator values shift toward the extremes (0 or 100). If the market is consolidating or moving sideways with little conviction, the indicator tends to stabilize near the center point.
Visual Output The final result is displayed as a continuous line on a separate window below the main price chart.
- The Scale: The background is divided into levels (ranging from 20 to 80), providing clear visual landmarks for high-momentum zones versus low-momentum zones.
- Reading the Movement: When the line moves toward the upper or lower boundaries, it signifies that the current trend has significant strength. When the line stays near the middle (the 50 mark), it suggests a lack of directional momentum, often indicating a period of market indecision or equilibrium.
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_color1 Magenta
#property indicator_level1 80
#property indicator_level2 70
#property indicator_level3 60
#property indicator_level4 50
#property indicator_level5 40
#property indicator_level6 30
#property indicator_level7 20
#property indicator_maximum 100
#property indicator_minimum 0
//---- input parameters
extern int Len=14; //---- buffers
double rsx[];
int init() {
SetIndexStyle(0,DRAW_LINE);
SetIndexBuffer(0,rsx);
IndicatorShortName("Turbo_JRSX_Close");
return(0);
}
int deinit()
{
return(0);
}
int start()
{
double f88, f90;
double f0, v4, v8, vC, v10, v14, v18, v20;
double f8, f10, f18, f20, f28, f30, f38, f48, v1C;
double f50, f58, f60, f68, f70, f78, f80, f40;
//int counted_bars = IndicatorCounted(),limit,shift;
//if (counted_bars<0) return(-1);
//if (counted_bars>0) counted_bars--;
double limit=Bars-(Len)-1;
//if(counted_bars>Len) limit=Bars-counted_bars-1;
for (int shift=limit;shift>=0;shift--) {
if (f90 == 0.0) {
f90 = 1.0;
f0 = 0.0;
if (Len-1 >= 5) f88 = Len-1.0; else f88 = 5.0;
f8 = 100.0*(Close[shift]);
//
// Modified for median price
//
// f8 = 100.0*((High[shift]+Low[shift]+Close[shift])/3);
f18 = 3.0 / (Len + 2.0);
f20 = 1.0 - f18;
} else{
if (f88 <= f90) f90 = f88 + 1; else f90 = f90 + 1;
f10 = f8;
f8 = 100*Close[shift];
// f8 = 100.0*((High[shift]+Low[shift]+Close[shift])/3);
v8 = f8 - f10;
f28 = f20 * f28 + f18 * v8;
f30 = f18 * f28 + f20 * f30;
vC = f28 * 1.5 - f30 * 0.5;
f38 = f20 * f38 + f18 * vC;
f40 = f18 * f38 + f20 * f40;
v10 = f38 * 1.5 - f40 * 0.5;
f48 = f20 * f48 + f18 * v10;
f50 = f18 * f48 + f20 * f50;
v14 = f48 * 1.5 - f50 * 0.5;
f58 = f20 * f58 + f18 * MathAbs(v8);
f60 = f18 * f58 + f20 * f60;
v18 = f58 * 1.5 - f60 * 0.5;
f68 = f20 * f68 + f18 * v18;
f70 = f18 * f68 + f20 * f70;
v1C = f68 * 1.5 - f70 * 0.5;
f78 = f20 * f78 + f18 * v1C;
f80 = f18 * f78 + f20 * f80;
v20 = f78 * 1.5 - f80 * 0.5;
if ((f88 >= f90) && (f8 != f10)) f0 = 1.0;
if ((f88 == f90) && (f0 == 0.0)) f90 = 0.0;
}
if ((f88 < f90) && (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;
}
rsx[shift]=v4;
}
return(0);
}
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