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e-Rainbow Indicator

e-Rainbow Indicator is not only complex in its structure indicator, this is a whole mixture of different types of indicators and destination, but nevertheless, they are made so that only work together, since most of them are no options for customization.

On the chart the indicator looks as though the very graphic and not visible at all, but to trade you need to know where the current price indicator as to who built on it, so the color of the candles (bars) must be chosen such that it easily distinguishable through the "rainbow" indicator .

As I mentioned, the indicator consists of a set of other indicators, to be precise, of the two types of indicators, one of which is built directly on the chart, and the other - under the schedule in the indicator window. The first type, which is built on the plot resembles a set of "moving average" of different periods and colors. These lines are needed to determine the trend, as the current time frame, and a time frame, the older period. "The second part of the" indicator e-Rainbow, which is located under the price of a box to indicate the direction and strength of the trend of the current time frame.

Indicator parameters:

the other side of the indicator, which is located directly on the chart, a set of parameters only change the thickness, type and color of the line, but in the indicator "below", except in color, and thickness of the bars, there are still some settings.

Parameters e-Rainbow_12:

FastEMA - a period of rapid exponential moving average;
SlowEMA - the period of slow exponential moving average;
SignalSMA - during the "signal" simple moving average;
thresh - a signal change of direction and crossing the zero line.
The last parameter is responsible for how often the light will paint your bars in dark red and dark green color. If you do not know how to use it, it's better not to touch this setting and leave it on default.

The use of trade:

The deal called for the purchase, when the trend turned up fully, but the price is in the yellow indicator on the sale, the same conditions, but the trend should be downward. The deal closes when the price touches the green or red zone, at the discretion of the trader. Indicator e-Rainbow_12, which is located at the bottom of the indicator window, responding to immediate change in trend, and thus works as osstsilyator. The intersection of the zero line can be used as an addition to the trend.
Download e-Rainbow Indicator


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