Scintillation effects of propagating and scattered radio waves (RWs) are considered analytically and numerically in the equatorial terrestrial ionosphere applying the statistical characteristics. Analytical calculations of the second-order statistical moments of the phase fluctuations of the ordinary and extraordinary RWs in the conductive collision ionospheric magnetoplasma (COCOIMA) are carried out for the first time using the Wentzel-Kramers-Brilluen method and the modified smooth perturbation method in consideration of the diffraction effects. Polarization coefficients of these waves in the equatorial ionosphere have been derived for the first time. The scintillation level includes the variance and the correlation functions of scattered RWs. Statistical moments contain complex refractive index, anisotropy coefficient characterizing irregular plasmonic structures, tilt angle of prolate irregularities concerning to the external magnetic field, permittivity components of the equatorial ionosphere, Hall's, Pedersen and longitudinal conductivities. A new feature of the "Fountain Effect" has been discovered in the equatorial ionosphere at weak and moderate scintillations caused due to anisotropy parameters of electron density fluctuations. Anisotropy parameters of electron density inhomogeneities influence the scintillation index of both the ordinary and extraordinary radio waves shifting maximums of the curves in the opposite directions at weak and moderate scintillations. Numerical calculations are carried out using the hybrid anisotropic correlation function of electron density fluctuations containing both exponential and power-law spectral functions having arbitrary spectral index, applying the experimental data.