In this section you can download Rainbow Moving Average for MetaTrader:

download Rainbow Moving Average (Rainbow MA) indicator for MetaTrader 4

Rainbow Moving Average is interesting alternative for normal average. With Rainbow MAs you can build easy trading strategies.

About Rainbow Moving Average

Rainbow Moving Average is a normal average with three colors (each color for trend up, trend down and range move). Thanks to that you get quick picture of current situation at the market.

rainbow-ma-example

The most popular way of using Rainbow MA is to group averages (something like in GMMA example). That way you have information about situation in short term trend and in long term trend.

Installation

Unzip file.
In Metatrader4 open File menu (left top) and select Open Data Folder. You should see a new window with MT4 folders and files. Something similar to the screen below:

metatrader4 folder

Go to unzipped folder. Move content from MQL4/Indicators to the same folder in MT4 window.
Do the same with templates. Go to the Templates folder and copy content to the same folder in MT4 window.

Questions? Leave a comment and I will try to help you.