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Rainbow Indicator
Emotionless Trading
No Repainting
Clear Entry, Exit
Clean SL and Target
Handles Sideways Market
⭐⭐⭐⭐⭐ Rating
Book a free demo
RainBow Indicator
"Ride the Rallies without losing Emotional control - Any Chart, AnyTime Frame Indicator" 🌈
Coded by: Saurabh Gupta
Rainbow Indicator 🌈
Introduction Video
( Must Watch - Hindi )
Rules for using:
- BUY ENTRY: Enter when a Green Candle gets closed after a yellow candle, immediately enter.
- SELL ENTRY: Enter when a Red Candle gets closed after a yellow candle, immediately enter.
- TARGET/EXIT: After entry whenever 1st Yellow (or opposite color) candle comes and closes is your exit/target.
- STOP LOSS: For Buy Trades SL will be below Yellow or Green candle (whichever is lower) and for Sell Trades SL will be above Yellow or Red Candle (whichever is higher)
- Works on all Charts, All Segments, and Any timeframe.
Rainbow Indicator - Stocks
ITC
LUPIN
Aurobindo Pharma
Rainbow Indicator in Nifty & Bank Nifty
Uptrend
Downtrend
Trend Change
Rainbow Indicator in Commodity
CRUDE OIL
GOLD
SILVER
Rainbow Indicator in FOREX
EURO USD
JPY USD
USD INR
Rainbow Indicator in Sideways Market
Without Any Filter
After Applying the Average Volume Filter
After Applying the Average Volume Filter + Volume Filter
Sample of Rally Captured by Rainbow Indicator on 4th Dec 2023
Problems you are facing daily in Trading
Missing Big Rallies
Market is moving 500 Points and you booking only 100 Points profit
Emotional Trading
Even after you are in correct trade you exit because of Back to Back Green and Red Candles and hence unable to peacefully sit in correct trade
Multiple Indicators
You want to do perfect Analysis but due to so many indicators on Chart , your price itself is hidden , resulting complex analysis
Small Profit
The Profit you are booking is small while stop losses are more, resulting no profit at the end of Month.
No Clear Entry and Exit
You are not getting Clear Entry and Exit
Target not sure
You think market will go till this level and then reverse but it keeps on moving up or down
Big Stop Loss
Even though you are doing analysis but stop losses are big resulting into losses and revenge trading
Sideways Market
Sideways market is pain for you due to premium decay and lot of signals
Solutions for your Problems -using Rainbow Indicator 🌈
Big Rallies Captured
Rainbow Indicator will capture big Rallies for you , if market is moving 500 points it will give you 450 points.
No More Emotional Trading
If the Market is in Uptrend then Rainbow will keep on making Green Candles and in case downtrend the only red candles , hence no emotions getting impacted due to back to back red and green Candles
No need of Multiple Indicator
Rainbow is just one Indicator , nothing else is required
Big Profits
Rainbow will capture Big Rallies for you and hence at the end of month you should be in profits if followed the rules of Rainbow
Clear Entry and Exit
In Rainbow Indicator you will BUY when a Green Candle is formed after the Yellow Candle
Target will be as per Market
After Entry whenever the next Yellow Candle is formed , on its closing we need to exit our positions
Minimum Stop Loss
In Rainbow Indicator stop Loss is below the low of previous yellow candle , which makes stop loss very small
Filters for Sideways Market
In the settings of Rainbow Indicator we have provided two volume based filters ,in case market is sideways Enable them to reduce signals by 70 %
Rainbow Indicator - Frequently Asked Questions
Where Does Rainbow Indicator Work?
Rainbow Indicator is built on Tradingview it works only on www.Tradingview.com (Website, Mobile App, Android Mobile, iPad, Macbook, iPhone or Tab, etc.)
For Which Kind of Market Rainbow Indicator Works?
Rainbow Indicator works on Any type of Market like Nifty, Bank Nifty, Fin Nifty, Stocks, Bitcoin, Currency Pairs, FOREX, Gold, Crude Oil etc. It works on any Chart that you can open on Trading View and any time frame
Do we get Signals of BUY and Sell on the Chart?
Yes, we get Entry signals of BUY and Sell on the Chart , if you want neat and clean chart and you understand the logic of entry then you can even disable Buy and Sell Signals from Settings of Indicator
How to Trade using Rainbow Indicator?
For Entry, we get Buy and Sell signals, Once you get the signal wait for the signal candle to close and immediately take your position. We need to Exit our positions (whether it is a buy position or a sell position) when a Yellow candle is formed and closes in the yellow.
What is a Yellow Candle?
Yellow Candle is an important zone or candle in which the market is consolidating and planning to either continue the trend or planning for reversal.
But the key point here is market can't stay in this zone for too long and hence it becomes a very important zone for entry.
Best Timeframe for Rainbow Indicator?
Ideally, it works in any timeframe you are comfortable but still, if you want to choose you can choose
For Intraday Trading: 3 Mins
Intraday options Trading: 3 Mins
Short-Term Trading: 2 or 4 Hours
Long-Term Investment: 1 Day
Scalping: 1 Min
What if I see Fake Signal?
There is nothing Fake - indicators are built on some code or logic , so whenever that logic is true they give a signal - After that logic - if the market changes direction - the indicator changes signal - so everything is based on risk and reward - when market changed direction indicator should give u early exit, and should take you to correct direction.
What if I am getting back-to-back yellow candles?
If you are getting back-to-back yellow candles and you are not getting a signal candle, then come to a lower timeframe means if you were checking on 5 minute time frame come to 3 minutes and still if you are not getting a signal come to 1 min timeframe
Is it a Repaint Indicator ??
Any Closed Candle will not change its color Guaranteed, A live Candle or current candle can do anything as we can't control the market but any closed candle doesn't change its color. Always wait for the candle to close for confirmation.
Will it work with the Trading View Free Version?
Yes, it will work with Trading View Free Version
What are the Benefits of Using the Rainbow Indicator?
1. The Indicator is on your Price Itself, so your
Chart is clean
2. Clear Entry, Exit, Stop Loss and Trailing SL
3. The Main Key Point is that it will Catch the Rally and make you hold till the end, some days till day end Yellow Candle will not come and you will capture the full Rally.
4. The Stop Losses will be very small in the Side Ways Market
Where to keep Stop Loss in starting?
For BUY Trade, keep the initial stop loss below the low of the yellow candle and hold the trade till the Yellow candle comes again.
For Sell Trade, keep the initial stop loss above the top of the Yellow candle and hold the trade till the yellow candle comes again.
How to Avoid Multiple Signals in Sideways Market?
We have added two filters (Volume filter and Average Volume Filter) under the settings of Rainbow Indicator which users can enable to reduce 60/70% of signals during a sideways market.
What is Volume Filter in the Settings of Rainbow Indicator?
In order to reduce the signals during the Sideways market, we have added a Volume Filter - when the user enables the volume filter, we only show signals where the volume of the signal candle is more than the volume of the previous candle
What is Average Volume Filter in settings ?
When the user enables the Average Volume filter, we only show signals where the volume of the signal candle is more than the average volume of the last 20 candles
After Enrollment, what do we need to provide for getting Access?
Once you Enroll, we just need your Trading View Username and once Access is provided, the Indicator will be applied in a Few steps.
What are the different Plans for Rainbow Indicator?
Rainbow Indicator comes with below Plans:
1. One-month Plan
2. Quarterly Plan
3. Half Yearly plan
4. Yearly Plan
5. Lifetime Plan
Is this a Course or an Indicator?
This is an Indicator that will be applied on Trading View, It's presented in the form of a Course to provide Free Videos for Education
Rainbow Indicator 🌈 Honest Feedback Received on What's App 📞 🙏🏼
Rainbow Indicator 🌈 Honest Feedback Received on Website 🌐 🙏🏼
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Disclaimer
Loss2profit is not SEBI Registered, all the Courses, Products, and Services are for educational purposes. Please consult your financial advisor before taking any position in Sharemarket. Loss2profit is not liable for any Profits or Losses you make in Sharemarket.
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