Rainbow indicator for intraday

Discussion in 'Index Futures' started by TTT, Jan 27, 2019.

  1. TTT


    Buy at the arrows.jpg Work?
    yc47ib likes this.
  2. :vomit:
    qlai likes this.
  3. I'm all for equality, but...
    Nobert and Risepoint1879 like this.
  4. Palindrome


    Maybe with different colors it would work better? :)

    Remember all indicators are, they are lenses of price action. They are not necessarily "signals."

    They are layers or as I call lenses that help you understand what is really happening. Try to distinguish this.

    There is not magic indicator, they just simply help you understand price action.

    Don't look for indicators to give you pure signals, but look for them to help you derive reality.

    My 2 cents, hope this helps.
    TTT, Nobert and Gotcha like this.
  5. Palindrome


    Let's put this in practice....

    Point A and Point B... what is this indicator telling us? Well in my opinion the Move to Point A is Stronger then the move to Point B? Why, because the Rainbow/Moving Average indicator is Steeper.

    So what is the reality then? I would want to focus on the steepest of Rainbows, WHY? This would suggest there is the most panic buying, or real buyers, buying the hell out of it. So I would categorize and only trade the steepest of rainbows....

    I would look for pull backs on Steep rainbows and enter in the direction of that rainbow.

    That is what I mean by deriving reality and looking at it as a lens.

    TTT likes this.
  6. Palindrome


    (forgot the picture with Point a and point b)

  7. Nobert


    ,,Updated Version'' 1.1
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  8. TTT


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  9. qlai


    I am afraid these rainbows are missing some ichimoku clouds to be of any use.
  10. speedo


    #10     Jan 27, 2019
    Nobert likes this.