RainbowOscillator


Summary

Developed by Mel Widner, Rainbow Oscillator is based on multiple moving averages and helps to identify trends and provides overbought/oversold levels.

Syntax

public interface RainbowOscillator

Members

NameTypeSummary
Result PropertyGets the resulting time series of the Rainbow Oscillator indicator calculation.

Example 1

//...
private RainbowOscillator rainbow;
//...
protected override void Initialize()
{
    rainbow = Indicators.RainbowOscillator
        (MarketSeries.Close, 9, MovingAverageType.Simple);
    //...
}
public override void Calculate(int index)
{
    double result = rainbow.Result[index];
    //...
}

Example 2

using cAlgo.API;
using cAlgo.API.Indicators;
namespace cAlgo.Robots
{
    // This sample cBot shows how to use the Rainbow Oscillator indicator
    [Robot(TimeZone = TimeZones.UTC, AccessRights = AccessRights.None)]
    public class RainbowOscillatorSample : Robot
    {
        private double _volumeInUnits;
        private RainbowOscillator _rainbowOscillator;
        private SimpleMovingAverage _simpleMovingAverage;
        [Parameter("Volume (Lots)", DefaultValue = 0.01)]
        public double VolumeInLots { get; set; }
        [Parameter("Stop Loss (Pips)", DefaultValue = 10)]
        public double StopLossInPips { get; set; }
        [Parameter("Take Profit (Pips)", DefaultValue = 10)]
        public double TakeProfitInPips { get; set; }
        [Parameter("Label", DefaultValue = "Sample")]
        public string Label { get; set; }
        public Position[] BotPositions
        {
            get
            {
                return Positions.FindAll(Label);
            }
        }
        protected override void OnStart()
        {
            _volumeInUnits = Symbol.QuantityToVolumeInUnits(VolumeInLots);
            _rainbowOscillator = Indicators.RainbowOscillator(Bars.ClosePrices, 9, MovingAverageType.Simple);
            _simpleMovingAverage = Indicators.SimpleMovingAverage(_rainbowOscillator.Result, 9);
        }
        protected override void OnBar()
        {
            if (_rainbowOscillator.Result.HasCrossedAbove(_simpleMovingAverage.Result, 0))
            {
                ClosePositions(TradeType.Buy);
                ExecuteMarketOrder(TradeType.Sell, SymbolName, _volumeInUnits, Label, StopLossInPips, TakeProfitInPips);
            }
            else if (_rainbowOscillator.Result.HasCrossedBelow(_simpleMovingAverage.Result, 0))
            {
                ClosePositions(TradeType.Sell);
                ExecuteMarketOrder(TradeType.Buy, SymbolName, _volumeInUnits, Label, StopLossInPips, TakeProfitInPips);
            }
        }
        private void ClosePositions(TradeType tradeType)
        {
            foreach (var position in BotPositions)
            {
                if (position.TradeType != tradeType) continue;
                ClosePosition(position);
            }
        }
    }
}
Reference