Name: Rainbow indicator for mt5 – indicator MetaTrader 5
Brand: RobotFX
SKU: 917
Price: 4.89 USD
Availability: InStock
Rating: 4 (118 reviews)

There are 2 input parameters:

AtrMultiplier: The lines will have this* the current Atr value distance from the moving averages.
Period: High and Low moving average, Atr period.

The basic idea is to have 6 lines: upper will be 2*atrmultiplier*atr +HighMA, second then atrmultiplier*atr + HighMA… Very easy to understand,

I’ve also made a video about it for beginners to help understand the writing of an indicator in mql:

Rainbow indicator for mt5 – indicator MetaTrader 5

📈 ROBOTFX MetaTrader Expert Advisors and Indicators to maximize profits and minimize the risks

Similar MetaTrader Trading Tools:

MetaCOT 2 CFTC ToolBox (Set of Indicators) MT4 -… Contents GENERAL PROVISIONS Brief description Installing the libraries and indicators Several indicators in one window Exporting CFTC reports to CSV…
Function library and Experts for trailing / Yury… The algorithm for maintaining and closing a position is known to be almost more important that the rules for opening…
MQL Plus Enhanced Debugging Support - library MetaTrader 5 Features Features three domains of functionality. - Debugging, Tracing and Performance measurments - Simple to use "Print any variable" to…
Rainbow Indicator for mt4 - indicator MetaTrader 4 There are 2 input parameters: AtrMultiplier: The lines will have this* the current Atr value distance from the moving averages.…
Donchian Channel for beginners by William210 -… Hello I wanted to redo the Donchian Canal as simply as possible The simpler it is, the less resources it…
Keltner Channel code for beginners by William210 -… Good evening The idea for this code was given on this thread. After several weeks of reflection and good gestures,…
EasyAndFastGUI library for creating graphical… EasyAndFastGUI v2.0 A new version of the EasyAndFastGUI v2.0 library for creating graphical interfaces has been released! This library contains…
Moving average code for beginners by William210 -… Good morning. All codes, all functions have examples in the official documentation if you want. I wanted to rewrite simpler code, easier…