Indicators
HomeIndicatorsAgenaScriptRelease Notes
  • 📒AgenaTrader Indicators Introduction
  • STANDARD INDICATORS
    • Accumulation/Distribution (ADL)
    • Adaptive Price Zone (APZ)
    • Aroon
    • Aroon Oscillator
    • Average Directional Index (ADX)
    • Average Directional Movement Rating (ADXR)
    • Average True Range (ATR)
    • BBBreakOutSpeed
    • Balance of Power (BOP)
    • Bollinger Bands
    • Bollinger Percent B (%b)
    • Bollinger Band Width (BBWidth)
    • Bollinger MTF (MultiTimeFrame)
    • BuySellPressure
    • BuySellVolume
    • CandleStickPattern
    • ChaikinMoneyFlow (CMF)
    • Chaikin Oscillator
    • ChaikinVolatility (CVL)
    • Chande Momentum Oscillator (CMO)
    • Climactic Distance
    • Commodity Channel Index (CCI)
    • Directional Movement (DM)
    • Donchian Channel
    • Directional Movement Index (DMI)
    • Double Stochastics (DSS)
    • Dynamic Momentum Index (DMIndex)
    • Ease of Movement (EOM)
    • Fisher Transform
    • Forecast Oscillator (FOSC)
    • HighestHighIndex()
    • HighestHighPrice()
    • IchimokuCloud
    • Keltner Channel
    • KeyReversalUp
    • KeyReversalDown
    • KeyReversalUpAtSMA
    • KeyReversalDownAtSMA
    • KeyReversalUpAtEMA
    • KeyReversalDownAtEMA
    • Linear Regression
    • LinRegIntercept
    • LinRegSlope
    • LowestLowIndex()
    • LowestLowPrice()
    • MACD
    • MAEnvelopes
    • Momentum (MOM)
    • Money Flow Index (MFI)
    • Moving Averages
      • DEMA - Double Exponential Moving Average
      • EMA - Exponential Moving Average
      • EMA MTF (MultiTimeFrame)
      • HMA - Hull Moving Average
      • KAMA - Kaufman's Adaptive Moving Average
      • MAMA - Mesa Adaptive Moving Average
      • SMA - Simple Moving Average
      • GapSMA - Gap Simple Moving Average
      • SMA MTF (MultiTimeFrame)
      • SMMA - Smoothed Moving Average
      • TEMA - Triple Exponential Moving Average
      • TMA - Triangular Moving Average
      • TRIX - Triple Exponential Moving Average
      • T3 - Triple Exponential Moving Average
      • VMA - Variable Moving Average
      • VWMA - Volume Weighted Moving Average
      • WMA - Weighted Moving Average
      • ZLEMA - Zero Lag Exponential Moving Average
    • nBarsUp
    • nBarsDown
    • OnBalanceVolume (OBV)
    • OutsideBars
    • Parabolic SAR
    • Percentage Price Oscillator (PPO)
    • PercentEnvelopes
    • Pivot Points
    • Polarized Fractal Efficiency (PFE)
    • Price Oscillator
    • Rainbow
    • Range
    • Range Indicator (RIND)
    • Rate of Change (ROC)
    • Relative Performance
    • Relative Spread Strength (RSS)
    • Relative Strength Index (RSI)
    • Relative Strength Levy (RSL)
    • Relative Volatility Index (RVI)
    • R-Squared
    • Standard Error (StdError)
    • Stochastics
    • Stochastics Fast
    • Stochastics RSI (StochRSI)
    • Summation (SUM)
    • SuperTrend
    • SupportResistanceAreas
    • Swing
    • Time-Series-Forecast (TSF)
    • Constant Lines
    • CurrentDayOHL
    • Daily Performance
    • DailyQuoteMoves
    • DayLines
    • GetDayBar
    • Info
    • Maximum (MAX)
    • Minimum (MIN)
    • PriceLine
    • PriorDayOHLC
    • PriorDayOHLCext
    • SessionBreakLines
    • ShowBidAsk
    • TickCounter
    • True Strength Index (TSI)
    • Ultimate Oscillator
    • Volume (VOL)
    • Volume Moving Average (VOLMA)
    • Volume Profile
    • Volume Rate of Change (VROC)
    • VolumeUpDown
    • Williams %R
    • ZigZag
  • PREMIUM INDICATORS
    • COT AddOn
      • COTLargeTraderActivity
      • COTStockDummy
      • COTReportLegacy
      • COTReportDisaggregated
      • COTOpenInterestLegacy
      • COTOpenInterestDisaggregated
      • COTCommercialIndex
      • COTAggregatedIndexPositionDisaggregated
    • DowTheory AddOn
      • DayLinesAdv
      • InsideBarsMT
      • MarketPhases
      • MarketPhases Pro
      • MTFBoxes
      • OutsideBars
      • P123
      • P123Pro
      • ReversalBars
    • Darvas AddOn
      • Darvas Boxes
    • Relative Currency Strength (RCS)
    • Volume AddOn
      • KlingerVolumeOscillator
      • Volume Oscillator
      • VolumeArea
      • VolumeGraph
      • VolumeKeltnerChannels
      • VolumeRiseFall
      • VolumeSentimentLong
      • VolumeSentimentShort
      • VolumeSessionPro
      • VolumeTickSpeed
      • VolumeUDR
      • Volume Zones
      • VolumeZoneOscillator
      • WyckoffWave
Powered by GitBook
On this page
Edit on GitLab
  1. STANDARD INDICATORS

Rainbow

Last updated 3 years ago

Description

The rainbow indicator is represented by the set of the moving average indicator lines. Each of these lines is placed closer or further from the chart depending on the time period taken into the account for calculation of moving averages.

Introduction

The rainbow indicator has some advantages comparing to the single moving average lines because it shows better, where the trend reversal occurs. When divergence in all lines is substantial - this is a signal of a strong up- or downtrend movement. By default red lines are the closest to the chart and represent the moving average line with the smallest time period. Yellow lines indicate short-term trends. Blue display the area for short-term traders’ activity. Green is typify for medium-term trends. Pink lines can be usefull for traders who hold positions for a long period.

Return value

Colors:

Yellow ЕМА: 2,3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15; Blue ЕМА: 17, 19, 21, 23, 25, 27, 29, 31, 33, 35, 37, 39, 41; Green ЕМА: 44, 47, 50, 53, 56, 59, 62, 65, 68, 71, 74; Red ЕМА: 78, 82, 86, 90, 94, 98, 102, 106, 110, 114, 118, 122; Pink ЕМА: 125, 130, 135, 140, 145, 150, 155, 160, 165, 170, 175, 180, 185, 190, 195, 200.

Parameters

MA Type

Allows to select between the types of the moving average lines that shape a rainbow indicator. Default setting is the EMA (exponential moving average) but it is possible to choose a simple (SMA), hull (HMA) and weighted (WMA) moving average lines

Low MA Period

Shows the smallest amount of time periods for which the moving average will be calculated. For example, the setting “2” for the daily chart indicates the two latest daily closing prices.

High MA Period

Shows the largest amount of time periods for which the moving average will be calculated.

Step

Defines the amount of moving average lines shown on a chart within the rainbow indicator. The smaller is this number the larger amount of lines will be plotted. In our example, step 2 would mean that the indicator will contain 80 EMA lines: EMA(2), EMA(4), EMA(6) and so on.

Visualisation

Rainbow