Over The Rainbow | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
Over the Rainbow v1.0
I have used this system for many years with great results. It is the simplest system in the world, it uses only price action, no indicators, oscillators, lines, fundamentals or anything else you can think of, just good trends and price breakouts.
I placed the color SMA(55) so that the inexperienced can see the trend better. This is my version of the rainbow and it works with any pairing and any time frame. We'll fine-tune it later and you can add a lot of things.
In the first setup we have a downward trend:
1 Million Euro Chart, Color SMA55 (Type 2)
After the top, we first open positions at levels 1, 2, and 3, then add on each support level breakout, and exit all positions on the breakout of the latest resistance level.
This example...about 125 points in less than 3 hours
I have used this system for many years with great results. It is the simplest system in the world, it uses only price action, no indicators, oscillators, lines, fundamentals or anything else you can think of, just good trends and price breakouts.
I placed the color SMA(55) so that the inexperienced can see the trend better. This is my version of the rainbow and it works with any pairing and any time frame. We'll fine-tune it later and you can add a lot of things.
In the first setup we have a downward trend:
1 Million Euro Chart, Color SMA55 (Type 2)
After the top, we first open positions at levels 1, 2, and 3, then add on each support level breakout, and exit all positions on the breakout of the latest resistance level.
This example...about 125 points in less than 3 hours
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