Rainbow Oscillator - Binary - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Based on Mel Widner's Rainbow Mean (similar to Guppy MMA ), this is a binary version of the Rainbow Oscillator .
It only shows two states:
This makes it suitable for situations where simple access to indicator values is required (e.g. from an expert).
Attachment download
📎ranbow_oscillator_-_binary.mq5 (9.22 KB)
Source: MQL5 #20882
Rainbow Oscillator - Binary - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Rainbow Oscillator - Binary - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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