Rainbow ATR trading system is a trading System based on ATR Channel and stepchoppy indicators which work best on 15M, 30M, 1H and 4H time frames and any currency pair.
Using Rainbow ATR trading system
The trading system is based on two indicators which signify buying and selling signal. It uses:
- ATR channels (period 18, MA 49).;
- Steppy choppy bars v.2, period 18 , KV 1.0;
- Rune Trend period 18, slow trend arrow);
- RSI filter (9 period); optional.
- Step chppy V.1
Rune Trend buys arrow filtered by: Steppy choppy bars v.2, blue color; Step choppy V.1 blue color; RSI blue color; The price action of the price below the second blue line.
Rune Trend sells arrow filtered by: Steppy choppy bars v.2, red color; Step choppy V.1 red color; RSI red color; The price action of the price below the second red line.
How to download and install an indicator?
In order to install the indicator on your MT4 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the post.
- Save the file to your computer.
- Extract and move the files into MT4>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the template to apply it on the chart.
Note: This indicator was developed by our subscriber. AtoZ Markets does not carry any copyrights over this trading tool.