Rainbow Trend MT5
- Indicateurs
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Sergey Rozhnov
About me: I have experience in Forex trading and software development since 2006. - Version: 1.7
- Activations: 5
A visual indicator of currency trends and strengths, featuring a histogram and table on the main chart, a currency trend chart, and an analysis block on an additional chart window. It analyzes 28 currency pairs made up of 8 major currencies (EUR, USD, GBP, JPY, AUD, CAD, CHF, and NZD).
Indicator capabilities
- Determines the direction and strength of the trend of currencies and symbols and builds multi-colored histograms, tables, informing with digital values and graphs based on this
- Shows the relative positions and changing trends of currencies in real time.
- In the form of graphs, it presents the history of trends for each currency pair on which the indicator is installed.
- Analyzes currencies using one of the selected modes (Analysis Block)
Analysis block
It consists of a list of analysis results and buttons. The default analysis mode can be set using the Analysis parameter. The Next and Prev buttons can be used to switch analysis modes, and the Revs button can be used to reverse the rating sorting.
Analysis modes:
- Currency rating (parameter Analysis=1);
- Strength of currency trend (parameter Analysis=2);
- Symbol rating (parameter Analysis=3);
- Strength of the symbol trend (Analysis parameter=4).
An example of working with indicator
- Choose strong symbols for trading;
- Select symbols that contain the strongest or weakest currencies;
- Track the change of currency in comparison with other currencies;
- Determine which currency is causing the movement;
- Track changing currency trends;
- Analyze trend line intersections and more.
For the indicator to work correctly, you need to open all symbols in the overview window.
It takes some time to download data for all currencies from the broker's server, so the chart may change until all the data is downloaded.
Indicator parameters
- MAPer - The period of the moving average used to determine the trend;
- MAMode - Method of constructing a moving average;
- GridCount - The number of lines in the histogram grid on the positive and negative sides;
- FixGridValue - Fix the top grid value to a specific value. 0 - automatic grid value;
- ShowValue - Show currency trend strength values above the histograms;
- SizeFont - Font size of chart labels;
- PreFix - Character prefix;
- SufFix - Symbol postfix;
- Analysis - Analysis number. Values from 1 to 4;
- LineWidth - Line thickness. Values from 1 and more;
- LimitCountedBars - Limits the number of history bars examined. Can be reduced for increased speed;
- clrXXX - Currency colors.
