Forex Dynamic Rainbow Scalping Strategy
From the Old Kings archive: Forex Dynamic Rainbow Scalping Strategy, an indicator for MetaTrader 4. As the name suggests, the idea behind it is short scalping trades. In the code it works with RSI, the Stochastic oscillator and moving averages. It has 18 settings, for example Fast EMA (default 5), Slow EMA (default 15) and Signal SMA (default 1). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 3 indicator files with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Indicator · MT4 · v1.0 · Free
About Forex Dynamic Rainbow Scalping Strategy
Forex Dynamic Rainbow Scalping Strategy is an indicator for MetaTrader 4 based on RSI, Stochastic and Moving Average. It has 18 settings, such as Fast ema, Slow ema and Signal sma. MQL source code included.
Files in the download: installation manual.txt, REALMACD.mq4, scalping tdi stochrainbow real macd.tpl, trenddinamicindex.mq4, TW_StochRainbow.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| Fast ema | 5 | |
| Slow ema | 15 | 23 |
| Signal sma | 1 | 0 |
| Min diff | 0.0 | |
| Show visual alerts | true | Turn this alert on or off |
| Shift sideway | 0 | Bar shift (0 = current bar) |
| Shift up down | 0 | Bar shift (0 = current bar) |
| Rsi period | 13 | 8-25 |
| Rsi price | 0 | 0-6 |
| Volatility band | 34 | 20-40 |
| Rsi price line | 2 | |
| Rsi price type | 0 | 0-3 |
| Trade signal line | 7 | |
| Show trade signal line2 | true | |
| Trade signal line2 | 18 | |
| Trade signal type | 0 | 0-3 |
| Stoch period | 1 | Period or timeframe used by the calculation |
| K period | 3 | Period or timeframe used by the calculation |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Indicators.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Scalping · RSI · Stochastic · Moving Average · MT4 Indicator · MQL4 Source Code