Fig.1. The Rainbow indicator

Rainbow – indicator MetaTrader 5

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Sixty Moving Averages with gradually changing period on a single chart.

Indicator input parameters:

input Smooth_Method XMA_Method=MODE_EMA; // Averaging method
input uint StartLength=2; // First depth of averaging
input uint StartStep=2;   // Starting step of averaging change
input uint EndStep=6;     // Final step of averaging change                                         
input int XPhase=15;      // Averaging parameter
                          // for JJMA it varies within the range -100 ... +100 and influences the quality of the transient process;
                          // for VIDIA it is a CMO period, for AMA it is a slow average period
input Applied_price_ IPC=PRICE_QUARTER_;// Price constant
input int Shift=0;      // Horizontal indicator shift in bars
input int PriceShift=0; // Vertical indicator shift in points

The indicator uses the classes of the SmoothAlgorithms.mqh library. Working with these classes was described in details in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.

Alternative:   Fractals at Close prices - indicator MetaTrader 5

Fig.1. The Rainbow indicator

Fig.1. The Rainbow indicator


Rainbow – indicator MetaTrader 5
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