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Views:: 6729
Rating:: (17)
Published:: 2018.05.24 12:37
Updated:: 2018.05.25 17:17

Ranbow oscillator.mq5 (10.34 KB) view

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Based on Mel Widner's Rainbow Average (that is similar to Guppy MMA), here is an oscillator version.

The indicator is mainly intended to show the trend of the market. But, using the levels (that are dynamic - they depend on the market changes), you can use it to assess overbought and oversold conditions too.

Range Oscillator + Bands

Unlike the basic Range Oscillator version, this version uses Bollinger Bands for overbought and oversold conditions assessment.

Range Oscillator

Range Oscillator is an indicator that shows the relative position of median price in the highest high to lowest low range for desired period.

Rocket RSI

The "RocketRSI" indicator by John F. Ehlers. Used to indicate strong probabilities of cyclical reversals.

Rainbow Oscillator - Binary

Based on Mel Widner's Rainbow Average (that is similar to Guppy MMA), here is a binary version of Rainbow Oscillator.

Rainbow Oscillator - indicator for MetaTrader 5