Forex Stochastic Rainbow Indicator
From the Old Kings archive: Forex Stochastic Rainbow Indicator, an indicator for MetaTrader 4. As the name suggests, the idea behind it is the Stochastic oscillator. In the code it works with the Stochastic oscillator. It has 6 settings, for example KPeriod (default 8), Slowing (default 5) and method (default 0). Try it on a demo chart first and note how its lines or arrows react to new bars. Inside: 2 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 Stochastic Rainbow Indicator
Forex Stochastic Rainbow Indicator is an indicator for MetaTrader 4 based on Stochastic. It has 6 settings, such as K period, Slowing and Method. MQL source code included.
Files in the download: installation manual.txt, stoch_rainbow_2.ex4, stoch_rainbow_2.mq4.
Settings
| Setting | Default | What it does |
|---|---|---|
| K period | 8 | Period or timeframe used by the calculation |
| Slowing | 5 | |
| Method | 0 | |
| Step | 2 | KPeriod |
| Count | 10 | |
| Limit | 0 |
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: Stochastic · MT4 Indicator · MQL4 Source Code