- "Rainbow Trend" is a trend indicator based on 75 trend lines, all separated by one period. Its original composition gives a glowing appearance to the colors of the rainbow.
- When the whole trend closes, the rainbow turns around and indicates a big change of trend.
- The settings are very simple, the indicator is fun, very fluid and very useful for decision making.
- We give 149 activations, so unlimited activation.
Time Frame :
- It is usable on all time ranges
Please see the attached images where the interpretation of the indicator and an example of a business strategy is displayed.
- Rainbow_TimeFrame : Over what period of time will the indicator be used.
- Rainbow_Period : On what period back the indicator will be based to give the average trend.
- Rainbow_Type : Type of trend lines.
- Rainbow_Shift : Shift of the trend lines.
- Rainbow_Price : What kind of price we want.