Rainbow Forex Scalping Strategy http://www.financial-spread-betting.com/course/technical-analysis.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE Rainbow scalper strategy. All I’ve done is drawn 3 exponential moving averages; one is length 6, the other is length 14 and the last one is length of 26. When price stars to push in the direction the fan will open out. The rainbow indicator will have a few more moving averages in there but generally speaking the idea is that we’ll waiting for the price to pull back towards the cluster of the moving averages. You have a band where you want price to enter. This is a trade to be used on major forex pairs to keep spreads tight and 15-minute charts. You are trying to buy a pullback timed with these rainbow moving averages spreads and you’re looking for another criteria to take the long. The third filter is that you must have 3 consecutive lower highs. The third is most important as its going to be our signal candle; as the price breaks above that candle we are going to go long and our stop will be 1 ATR of the timeframe we are trading.