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Super Trend is one of the most popular custom indicators that it doesn’t provided in metatrader 4 (MT4) platform.
Rainbow SuperTrend has some advantages, there are can display the trend direction and stop loss line based on Average True Range (ATR).
This indicator is good to used for trailing stop trading style, because when the price direction is trending the stop loss point can adjust based on supertrend line.
It is the high recommended to using this indicator combined with oscillator indicator to identify divergence point.
| Optimization has been done in version 1.1. Highly recommended using EMA SuperTrend Strategy Indicator if you want to get better result in here: https://www.mql5.com/en/market/product/91664 |
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Input parameters:
1. ATR_Period (The period number that used to adjust ATR values).
2. ATR_Multiplier (Using this value to adjust the trend of Rainbow SuperTrend indicator).
3. ATR_Divisor (This input is used to adjust the distance of every buffer to each others).
4. Max_History_Bars (it is used to display how many bars of indicator).
5. Size_of_Buffers.
| Trading wisely with always using money management! |
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![图片[1]-Rainbow SuperTrend 外汇EA-EA侦探社 - 全球领先的MQL5官网外汇EA机器人MT4自动化交易EA资源免费分享网站](https://www.mql5.vip/wp-content/uploads/2024/05/20240514105623-66434357bb6da.png)
