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I am looking for the upgrade to ninja 8 for rainbow indicators. Does anybody know about this product ? I have it for ninja 7 and its great. I cannot access there site without a password and I don't see a way to get a password. I'm wondering if they still exist.
Can you help answer these questions from other members on NexusFi?
The main difficulty was to find an algorithm that produces rainbow colors.
Played around a little and now have a rainbow indicator that works with 30 different moving averages.
It is not optimized yet, but already looks like a distorted rainbow.
Here are two sample charts:
The first one shows a rainbow indicator built from Exponential Hull Moving Averages (EHMA). It starts with an EHMA(5) and then adds further EHMAs by increasing the lookback period by 3.
The second chart shows a rainbow indicator built from Weighted Moving Averages (WMA). It starts with a WMA (5) and then adds further WMAs by increasing the lookback period by 2.
Sorry its not an indicator its a tools enhancer for Ninja Trader. In other words Ninja tools are not the greatest and Lucas at rainbow made them better. but I'm not sure they exist any longer.
My previously saved web page for this tool now requires a login which leads me to believe the add-on is no longer available for free. It also disappeared from the Ninjatrader Ecosystem page but you can still see it greyed out as Rainbow TPO. Cheers
@Doug Pearson: I am sorry that I have hijacked this thread. The reason was in the headline, where it reads "rainbow indicator" instead of "rainbow tools".
Nevertheless, your request gave birth to a rainbow indicator for NinjaTrader 8.
I am getting some interesting results, as it can be used for both trend indication and support resistance.
Also expect an increase in volatility once the cloud has become narrow.
It will be an open source indicator.
Here are some samples:
Uptrend with a set of Laguerre filters:
Downtrend with a set of EHMAs:
Gauss Filters showing a choppy market around a flat line:
