Rainbow Moving Average : Summary
This is a well known indicator. (You can even find free versions on the net.)
So why proposing it here ?
Simply because usually , this indicator has static parameters and some of our customers asked for a professionnal , fully parametrizable version..
We wanted to realize a version completely dynamic , where you may add or remove MA. Change MA calculations , change MA type... and more custom parametrization...
Rainbow Moving Average : Parameters
Explanations
1. The 'Select MA Type' allows you to choose the algorithm to calculate the moving average.You have the coice between EMA, HMA , SMA , WMA
2. The indicator divides the MA's in 3 categories : Short, Medium, Long
For each category , you have 3 parameters
1. The number of MA lines</>
2. The value of the first MA in the category
3. The adding step for each MA in the category
Remark: If you want to not draw a category , just set his 'MA Numbers' parameter to 0
3. At the last part of the parameter screen, you have 3 colors parameters. One for each category (short, medium , red). It will changes all MA colors for the category, so don't use the Plots parameter to change colors.
How the MA values are calculated :
For example : 6 , 3 , 3 means :
6 lines :
- MA 1 = 3
- MA 2 = 6
- MA 3 = 9
- MA 4 = 12
- MA 5 = 15
- MA 6 = 18
Rainbow Moving Average : Configuration Examples
We will shows here different configurations of the indicator on the same underlying chart.
Example with default Parameters |
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Examples with each type of Moving Average Algorithm |
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| EMA | HMA | |
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| SMA | WMA | |
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Example with diffent colors |
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Example with 10 lines per category |
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Example with only 2 categories (Short & Long).You just need to set the 'Medium MA Numbers' to 0 |
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Example with more space between categories |
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As you see.
You can configure it exactly like you want.
Rainbow Moving Average : Prices
This wonderfull indicator is offered at 99 $
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