Gaussian Rainbow MA Metatrader 4 Forex Indicator

The Gaussian Rainbow MA forex indicator is built up of multiple moving averages with different periods.

It consists of short-term, medium-term and longer-term moving averages.

This creates the Gaussian Rainbow MT4 indicator.

It’s an easy to follow trend following forex indicator that is built on sound logic.

  • A bullish trend occurs when candlesticks are trading above the Gaussian Rainbow. Look here for buy trades.
  • A bearish trend occurs when candlesticks are trading below the Gaussian Rainbow. Look here for sell trades.

It’s a good idea to experiment a bit with the indicator’s default period (40) setting to suit your needs.

Try it for scalping, day trading and swing trading.

It can be used as a standalone buy/sell indicator or together with an oscillator to scalp in the direction of the overall Rainbow trend.

Free Download

Download the gaussian-rainbow.mq4” MT4 indicator

Example Chart

The GBP/USD 30-minute chart below displays the Gaussian Rainbow MA Metatrader 4 indicator in action.

Basic Trading Signals

Signals from the Gaussian Rainbow MA MT4 indicator are easy to interpret and goes as follows:

Buy Signal: Go long when the candlesticks are positioned above the Gaussian Rainbow MA indicator. Place a protective stop-loss either below the lower purple MA line or below support.

Sell Signal: Go short when the candlesticks are positioned below the Gaussian Rainbow MA indicator. Place a protective stop-loss either above the upper purple MA line or above resistance.

Trade Exit : Use your own method of trade exit.

Download

Download the gaussian-rainbow.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: Chart pattern indicator

Customization options: Variable (period, price, Gaussian steps, MA’s) Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: trend

Installation

Copy and paste the gaussian-rainbow.mq4 into the MQL4 indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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