Skip to content

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)

    Share this post!