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Published:

2018.05.24 13:31

Ranbow oscillator - binary.mq5 (9.22 KB) view

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

It shows only two states:

state up.
state down.

That makes it suitable for cases when a simple access to indicator values is required (like from experts).

Rocket RSI

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

Rainbow Oscillator

The Rainbow Oscillator indicator is mainly intended to show the trend of the market. But, using the levels you can use it to assess overbought and oversold conditions too.

Bollinger Bands - EMA Deviation

This version of Bollinger Bands does not use standard deviation for Upper and Lower Bands, but uses the EMA deviation.

BB Stops - EMA Deviation

This version of BB Stops changes uses EMA deviation for calculation.

Rainbow Oscillator - Binary - indicator for MetaTrader 5