Rainbow Oscillator

The following applies:

RANGE A = MAX(AVE1, AVE2, ..., AVE10) - MIN(AVE1, AVE2, ..., AVE10)

RANGE C = MAX(_Cj) - MIN(_Cj) for j = m to m-10

where:

RANGE A = Range of averages

RANGE C = Range of close prices in the averaging period

then the rainbow bandwidth (RB) is calculated as a percentage as

RB = 100 * (RANGE A) / (RANGE B)

the Rainbow Oscillator (RO) fluctuates between -100 % and + 100 % and is calculated as follows:

AVEA = AVERAGE(AVE1, AVE2, ...,AVE10)

RO = 100 * (C - AVEA)/(RANGE C)