OPEN-SOURCE SCRIPT
Rainbow MA- AYNET
Description
What it Does:
The Rainbow Indicator visualizes price action with a colorful "rainbow-like" effect.
It uses a moving average (SMA) and dynamically creates bands around it using standard deviation.
Features:
Seven bands are plotted, each corresponding to a different rainbow color (red to purple).
Each band is calculated using the moving average (ta.sma) and a smoothing multiplier (smooth) to control their spread.
User Inputs:
length: The length of the moving average (default: 14).
smooth: Controls the spacing between the bands (default: 0.5).
radius: Adjusts the size of the circular points (default: 3).
How it Works:
The bands are plotted above and below the moving average.
The offset for each band is calculated using standard deviation and a user-defined smoothing multiplier.
Plotting:
Each rainbow band is plotted individually using plot() with circular points (plot.style_circles).
Customization
You can modify the color palette, adjust the smoothing multiplier, or change the moving average length to suit your needs.
The number of bands can also be increased or decreased by adding/removing colors from the colors array and updating the loop.
If you have further questions or want to extend the indicator, let me know! 😊
What it Does:
The Rainbow Indicator visualizes price action with a colorful "rainbow-like" effect.
It uses a moving average (SMA) and dynamically creates bands around it using standard deviation.
Features:
Seven bands are plotted, each corresponding to a different rainbow color (red to purple).
Each band is calculated using the moving average (ta.sma) and a smoothing multiplier (smooth) to control their spread.
User Inputs:
length: The length of the moving average (default: 14).
smooth: Controls the spacing between the bands (default: 0.5).
radius: Adjusts the size of the circular points (default: 3).
How it Works:
The bands are plotted above and below the moving average.
The offset for each band is calculated using standard deviation and a user-defined smoothing multiplier.
Plotting:
Each rainbow band is plotted individually using plot() with circular points (plot.style_circles).
Customization
You can modify the color palette, adjust the smoothing multiplier, or change the moving average length to suit your needs.
The number of bands can also be increased or decreased by adding/removing colors from the colors array and updating the loop.
If you have further questions or want to extend the indicator, let me know! 😊
開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神，此腳本的創建者將其開源，以便交易者可以查看和驗證其功能。向作者致敬！雖然您可以免費使用它，但請記住，重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。