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The Rainbow indicator

The Rainbow Moving Average indicator is based on Australian trader Daryl Guppy's Rainbow indicator. The Rainbow Moving Average indicator consists of 22 exponential moving averages (EMA) ranging from 9-period up to 100-period EMAs. These 22 EMAs are plotted on the price chart using the full colour spectrum which makes the indicator look like a “rainbow”. But it’s not just about esthetics – the rainbow indicator is very useful in highlighting trend changes. It was popularized by trader Lars Gottwik in the Godmode trader forum.

The Rainbow indicator can be applied on any instrument and in any time frame.

Rainbow technical analysis indicator.

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