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Indicators

Rainbow indicator for mt5 - indicator for MetaTrader 5

Peter Mueller
Views:
5898
Rating:
(4)
Published:
2023.10.31 11:45
Updated:
2023.12.16 16:38
Rainbow.mq5 (7.31 KB) view
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There are 2 input parameters:

  1. AtrMultiplier: The lines will have this* the current Atr value distance from the moving averages.
  2. Period: High and Low moving average, Atr period.

The basic idea is to have 6 lines: upper will be 2*atrmultiplier*atr +HighMA, second then atrmultiplier*atr + HighMA... Very easy to understand, 

I've also made a video about it for beginners to help understand the writing of an indicator in mql:

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