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V15:7 (332-334): Traders' Tips
V15:7 (332-334): Traders' Tips
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TRADESTATION
In the article Rainbow charts, author Mel Widner introduces a colorful technique for plotting an oscillator to signal trend changes. The oscillator is derived from a consensus of trends that, when plotted in color, has the appearance of a rainbow.
Using a few studies and functions in TradeStation, the rainbow lines and rainbow oscillator can be developed in Easy Language. As always, the functions should be devel-oped first. For the indicators themselves, special formatting is required for each. An outline of the recommended format is given after each set of indicator code.
Below is the Power Editor code for the first function, Rainbow. This function performs the basic calculations for the moving averages that make up the rainbow. ...continuded
In the article Rainbow charts, author Mel Widner introduces a colorful technique for plotting an oscillator to signal trend changes. The oscillator is derived from a consensus of trends that, when plotted in color, has the appearance of a rainbow.
Using a few studies and functions in TradeStation, the rainbow lines and rainbow oscillator can be developed in Easy Language. As always, the functions should be devel-oped first. For the indicators themselves, special formatting is required for each. An outline of the recommended format is given after each set of indicator code.
Below is the Power Editor code for the first function, Rainbow. This function performs the basic calculations for the moving averages that make up the rainbow. ...continuded
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