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Rainbow SuperTrend

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Published: 27 December 2022

Current version: 1.1

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Overview
Reviews (2)
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Rainbow SuperTrend

Name: Rainbow SuperTrend
Rating: 5 (1 reviews)
Author: Eko Baskoro

Indicators
Eko Baskoro
Version: 1.1
Updated: 8 January 2023

Super Trend is one of the most popular custom indicators that it doesn't provided in metatrader 4 (MT4) platform.

Rainbow SuperTrend has some advantages, there are can display the trend direction and stop loss line based on Average True Range (ATR).

This indicator is good to used for trailing stop trading style, because when the price direction is trending the stop loss point can adjust based on supertrend line.

It is the high recommended to using this indicator combined with oscillator indicator to identify divergence point.

Optimization has been done in version 1.1. Highly recommended using EMA SuperTrend Strategy Indicator if you want to get better result in here: https://www.mql5.com/en/market/product/91664

Input parameters:

1. ATR_Period (The period number that used to adjust ATR values).

2. ATR_Multiplier (Using this value to adjust the trend of Rainbow SuperTrend indicator).

3. ATR_Divisor (This input is used to adjust the distance of every buffer to each others).

4. Max_History_Bars (it is used to display how many bars of indicator).

5. Size_of_Buffers.

Trading wisely with always using money management!

Thanks for your support.
www.mql5.com/en/users/ekobaskoro12/news
https://paypal.me/baskoroeko?country.x=ID&locale.x=en_US

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436

jiab 2023.01.16 03:12 #

good job!!!

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You can proof how good this indicator is by comparing this indicator with other support resistance indicators in MQL5.com market. The Automated Support Resistance Screener is a powerful support and resistance custom indicator that can help traders determine the level of support and resistance values simple, easily and accurately. MT4 doesn't provide any support and resistance indicator, making ASRS an essential tool for traders and t his indicator is built using the MQL4 programming language an

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Exponential moving average (EMA) and super trend are popular and good indicators that is often and used to determine the trend direction. One of the best trading strategies with trailing stop is trading strategy with using a combination of Exponential Moving Average (EMA) and Super Trend indicators. EMA SuperTrend Strategy Indicator is the indicator consist of EMA, Super Trend and Alert function also other calculations are needed. It's also has extra indicator there are Automated Fibonacci Retr

30 USD

Fibonacci retracement is an object or function that is often used by traders to determine values of fibonacci levels. When to open position, where is the breakout or limit point, stop loss position and take profit position can be determined based on fibonacci levels. But commonly, this object only can be used manually in Metatrader 4 (MT4). Therefore we need an indicator of fibonacci retracement. The use of indicator will make decision making easier, faster, and more consistence. We recommend t

30 USD

Good performance on any broker or any pair, can be used well on large spread, more difficult to get Margin Call (MC) and simple input setting are some characteristics of good Expert Advisor (EA). Sora EA MT4 is an EA that further development of Zeta EA MT4 and has better performance with added special Lots calculation function. It's built and works based on AI analysis function, time cycle functions, simple support resistance, chart pattern, ATR, and other special calculations and functions. T

49 USD

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