Rainbow Indicator: Comparing Sixty Moving Averages

Summary

The Rainbow indicator displays sixty moving averages on one chart, with their averaging periods changing gradually. Its inputs let users select the smoothing method, starting period, step sizes, an additional method-specific parameter, applied price, and horizontal or vertical shifts. This setup makes it possible to compare a range of smoothed price series in a single view.

The document describes configuration options but does not explain how to interpret the resulting bands or turn them into trading signals. It provides no examples, market tests, or performance evidence, and it does not specify the exact period sequence generated by the step settings. The indicator relies on a separate smoothing library, whose methods are discussed elsewhere. As presented, the material is a brief description of a charting tool rather than a tested trading strategy; users would need to define and validate any signal rules themselves.

Key ideas

• The indicator plots sixty moving averages with gradually changing periods.
• Users can choose the smoothing method and configure the starting period and step sizes.
• The selected price series and chart shifts are adjustable inputs.
• The document gives no trading rules or evidence of performance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.