//------------------------------------------------------------------------------
//
// Formula Name: Rainbow Oscillator
// Author/Uploader: Anthony Faragasso
// E-mail: ajf1111@epix.net
// Date/Time Added: 2001-08-13 21:42:30
// Origin: July 1997 TASC Traders Tips
// Keywords:
// Level: medium
// Flags: indicator
// Formula URL: http://www.amibroker.com/library/formula.php?id=101
// Details URL: http://www.amibroker.com/library/detail.php?id=101
//
//------------------------------------------------------------------------------
//
// Very Good Visual with colored bars .
//
// Imediately Identify Underlying Trend Of the Market.
//
//------------------------------------------------------------------------------
/* Rainbow Oscillator */
/* July 1997 TASC Traders Tips*/
/* Coded by Anthony Faragasso */
maxgraph =16;
avg1= Max (Ma(C,2),
Max (Ma(Ma(C,2),2),
Max (Ma(Ma(Ma(C,2),2),2),
Max (Ma(Ma(Ma(Ma(C,2),2),2),2),
Max(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),
Max(Ma(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),2),
Max(Ma(Ma(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),2),2),
Max(Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),2),2),2),
Max(Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),2),2),2),2),
Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),2),2),2),2),2))))))))));;;;;;;;;
avg2 = Min(Ma(C,2),
Min(Ma(Ma(C,2),2),
Min(Ma(Ma(Ma(C,2),2),2),
Min(Ma(Ma(Ma(Ma(C,2),2),2),2),
Min(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),
Min(Ma(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),2),
Min(Ma(Ma(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),2),2),
Min(Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),2),2),2),
Min(Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),2),2),2),2),
Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),2),2),2),2),2))))))))));;;;;;;;;;
/* Rainbow Oscillator */
graph0 = 100 * (CLOSE - ((Ma(C,2)+
Ma(Ma(C,2),2)+
Ma(Ma(Ma(C,2),2),2) + Ma(Ma(Ma(Ma(C,2),2),2),2) +
Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2) +
Ma(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),2) +
Ma(Ma(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),2),2)+
Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),2),2),2)+
Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),2),2),2),2)+
Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(Ma(C,2),2),2),2),2),2),2),2),2),2))
/10))/(HHV(C,10)-LLV(C,10));
/* Lower Rainbow Band */
graph1 = -100 *( avg1 - avg2) /
(HHV(C,10) - LLV(C,10));
/* Upper Rainbow Band */
graph2 = 100 * (avg1 - avg2) /
(HHV(C,10) - LLV(C,10));
graph0style = 3;
graph2style = graph1style = 1;
graph2color = graph1color =3;
graph3 = 0;
graph3color =8;
downbar =graph0 upbar = graph0 > ref(graph3,-1);
barcolor = IIF( downbar,4, IIF( upbar, 6, 0 ) );
graph0barcolor = ValueWhen( barcolor != 0, barcolor );
title = name() +" Rainbow Oscillator : "+writeval(graph0,format=1.2) +" % ";
