Hello traders
This script is a Pinescript adaptation of this FXCM/LUA script
Draws a flexible number of moving averages between 1 and 5 - with a end result looking like a rainbow
Formula
Each Moving Average is defined as a Moving Average of the previous MA
The first MA is based on candle close
MA = MA of Price
MA = MA of MA
....
MA = MA of MA
...
I've been interested in 'Multiple Moving Averages' lately and came across another script on here for a Rainbow MA.
Unfortunately its source is private and I wanted to try things out with other MA types so I put this together.
I also wanted to make it a seperate study so I could view regular bars without the clutter.
The general rule of thumb with these is the...
Mini Line Chart show a small line chart beside the main chart. Detail of Mini Line chart as below:
1.Line chart adjustable:
- Size: number of bar to show as line chart
- Source: Open/ High/ Low/ Close/ HL2/ HLC3/ OHLC4
- Color ...
This script color codes the price bars based on the close-value position relative to a moving average ribbon. Rainbow colors used for simplicity and readability.
Use to study which colors are most likely to produce continuation vs. reversal.
**** MUST use bars, not Japanese candles! ****
Rainbow Strategy Backtesting base on "Rainbow Moving Average" Strategy as below:
1.Rainbow Moving Average setup
- Source: source of 1st MA
- Type: SMA/EMA
- Period: period of 1st MA
- Displacement: period of 2nd MA to 7th MA with source is previous MA
2.Trend Define
- Up Trend: Main MA moving at the top of Rainbow
- Down Trend: Main MA moving at the bottom of...
Stochastic Rainbow consists of 8 stochastic oscillators with different speeds. So It has lower noises and better visualization comparing to simple stochastic.
I welcome comments, suggestions.
The strategy is based on the following idea:
www.youtube.com
Not a fan of this but no script was present to show this idea's performance.
Best suitable for the 1-minute chart. You can change the ema values as per your needs.
For Tips to continue :) -
BTC: 1BjswGcRR6c23pka7qh5t5k56j46cuyyy2
ETH: 0x64fed71c9d6c931639c7ba4671aeb6b05e6b3781
LTC:...
To Survive in Bear Markets or in Horizontal Markets;
EMA Rainbow ;
EMA Rainbow is a rainbow which is formed by multiplying the moving average by certain proportions and reflecting up and down on the ema200. According to the observations, dark green areas are strong buying areas, dark red areas are strong sales regions. Trading decisions can be made according to...
Just take a hit of LSD and ride the trend. I was messing around with generating colors. I used a simple python script which helps with generating tradingview code blocks and loops.
This is combo strategies for get a cumulative signal.
First strategy
This System was created from the Book "How I Tripled My Money In The
Futures Market" by Ulf Jensen, Page 183. This is reverse type of strategies.
The strategy buys at market, if close price is higher than the previous close
during 2 days and the meaning of 9-days Stochastic Slow...
NOTE: Because the originally released script failed to comply with the House Rule in the description, it was banned. After revising and reviewing the description, it is republished again. Please forgive the inconvenience caused.
Level: 1
Background
The Rainbow Charts indicator is a technical analysis tool that follows trend. It helps traders to visualize a...
Based on Ripsters EMA clouds, this :
adds an 6 section EMA rainbow to act as DYNAMIC support and resistance levels, that you never have to set manually
splits the 5-12 cloud into 2 parts, as opposed to using a 8-9 centerline. More visually pleasing and intuitive to use
When 300 cloud and 25 cloud are both bullish or bearish - look to take positions in that...
No other Rainbow indicator available in TradingView could plot over 20 different MA's at the same time, so i designed this. No my idea. File is opensource. Made by BlackHat
![BTCUSDT: Stochastic Rainbow [SHK]](https://s3.tradingview.com/e/eVYlQl6l_mid.png "Stochastic Rainbow [SHK]")
![BTCUSDT: [blackcat] L1 Mel Widner Rainbow Chart](https://s3.tradingview.com/k/KXkmJ9kW_mid.png "[blackcat] L1 Mel Widner Rainbow Chart")
