MA Rainbow Scalping (Indicators MT4)
MA Rainbow Scalping (Indicators MT4) — a MetaTrader 4 indicator kept in the Old Kings collection. Its name points to moving averages and short scalping trades. Its source code uses 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). Attach it to a chart to see what it draws, then compare it with price on a few timeframes. Inside: 16 indicator files with source code (.mq4) you can open and edit in MetaEditor and a PDF guide. 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 MA Rainbow Scalping (Indicators MT4)
MA Rainbow Scalping (Indicators MT4) 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, MA_Shade 180-360.ex4, MA_Shade 180-360.mq4, MA_Shade 25-100.ex4, MA_Shade 25-100.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