This overlay indicator sets up the 34 EMA Wave and paints the GRaB (Green Red and Blue) Candles used extensively by Raghee Horner trading style.
- 34 period EMA (Exponential Moving Average) on the High ; plotted GREEN by Default
- 34 period EMA (Exponential Moving Average) on the Close ; plotted BLUE by Default
- 34 period EMA (Exponential Moving Average) on the Low ; plotted RED by Default
The Color-coding of the CANDLES are based upon where each Candle closes :
- Above the 34 period EMA High is GREEN Candles
- Below the 34 period EMA Low is RED Candles
- Between the 34 period EMA High and 34 period EMA Low is BLUE Candles
Additionally this indicator draws vertical lines to show the minimum and maximum Lookback advocated by Raghee when identifying the Trend in a Specific time frame.
