Rainbow Chart
Posted:
Tue Sep 10, 2013 3:36 am
by Apprentice
MA[1] = MA of Price
MA[2] = MA of MA[1]
....
MA[n]= MA of MA[n-1]
The indicator was revised and updated
Average Rainbow
Posted:
Tue Sep 10, 2013 3:51 am
by Apprentice
Average Rainbow = (MA[1] + ... + MA[n]) /N
Mel Widner Averaged Rainbow
Posted:
Tue Sep 10, 2013 3:58 am
by Apprentice
Average Rainbow = (5*MA[1] +4*MA[2]+3*MA[3] +2*MA[4] +1*MA[5] ... + 1*MA[10]) /20
In a July 1997 Stocks & Commodities article, Mel Widner introduced rainbow charts give some extra weight for the less-smoothed data:
Zero-Lag Rainbow
Posted:
Tue Sep 10, 2013 4:34 am
by Apprentice
MA1 = MA of Mel Widner Averaged Rainbow
MA2 = MA of MA1
Diff = MA1 - MA 2
Zero-Lag Rainbow = MA1 +Diff
SVEZLRBPercB
Posted:
Wed Sep 11, 2013 6:12 am
by Apprentice
As described in the article by Sylvain Vervoort, The Best Of Both Worlds
Oscillators, Smoothed. The September issue of S & C magazine.
Re: Rainbow Chart
Posted:
Wed Sep 11, 2013 6:25 am
by StefPasc
so many thanks Apprentice...
Re: Rainbow Chart
Posted:
Mon Nov 04, 2013 1:03 pm
by Coondawg71
Unable to download this file, possibly a bad link???
Thanks,
sjc
Re: Rainbow Chart
Posted:
Mon Nov 04, 2013 3:19 pm
by Apprentice
Fixed.
It was a temporary Server glitch.