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Smoother rainbow.mq5 (11.5 KB) view

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Theory :

Simple indicator that is using a nice smoothing algorithm to display a rainbow. Set the step, price and display options, and that is all

Usage :

You can use it for overall trend estimation based on the slopes of each value

Asymmetric bands oscillator - extended version

Asymmetric bands oscillator

Donchian channel - extended

Kirshenbaum bands

Smoother rainbow - indicator for MetaTrader 5