Forex MA Rainbow Scalping Strategy
From the Old Kings archive: Forex MA Rainbow Scalping Strategy, an indicator for MetaTrader 4. As the name suggests, the idea behind it is moving averages and short scalping trades. In the code it works with moving averages and an oscillator. It draws arrows on the chart and can send alerts. It has 6 settings, for example Risk (default 6), Bar Count (default 0) and MA1 Period (default 180). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 16 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 MA Rainbow Scalping Strategy
Forex MA Rainbow Scalping Strategy is an indicator for MetaTrader 4 based on Moving Average and Oscillator. It draws buy and sell arrows on the chart and can alert you with a pop-up, sound, email or push message. It has 6 settings, such as Risk, Bar count and Ma1 period. MQL source code included.
Files in the download: ASCTrend1i-Alert.ex4, ASCTrend1i-Alert.mq4, ASCTrend1i.ex4, ASCTrend1i.mq4, installation manual.txt, ma rainbow.tpl, MA_Shade 180-360.ex4, MA_Shade 180-360.mq4 ….
Settings
| Setting | Default | What it does |
|---|---|---|
| Risk | 6 | Risk level. WPR_Period=3+Risk*2 or WPR_Period=ALT_PERIOD for a large move |
| Bar count | 0 | 0 for full chart buffer |
| Ma1 period | 180 | Period or timeframe used by the calculation |
| Ma2 period | 360 | Period or timeframe used by the calculation |
| Ma method help | 0-SMA, 1-EMA, 2-SMMA, 3-LWMA | |
| Ma method | 1 |
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 · Moving Average · Buy/Sell Arrows · Alerts · Oscillator · MT4 Indicator · MQL4 Source Code