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. 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. Now you can navigate the markets with the exact tools of a 30-year trading veteran
Interesting Uses of The Indicator?
- Make a note when the candles go from a consistent red to blue (bearish to neutral), green to blue (bullish neutral), blue to red (neutral to bearish) and blue to green (neutral to bullish).
- When a trending market crosses through the opposite side of the 34 EMA Wave or when the price trades through the 34 bar EMA of the low at the "twelve o'clock angle of the 34 EMA wave.
- Monitor for changes in the angle of the 34 EMA Wave as it steepens or flattens.
Clarity of The 34 EMA Wave
- Smoothness - once a "twelve to two o'clock" or "four to six o'clock" angle of the 34 EMA Wave has been identified, the moving averages should be smooth, reflecting normal volatility versus gaps or long wicks.
- Established - the moving averages should be established rather than in the transition from one angle to another. The more "established" the more obvious the trend is to the overall market.
- Respected - The 34 EMA Wave is "Respected" when the trend corrects to the 34 EMA Wave without breaking through the opposite side.
How to Install
First, make sure you have the cTrader trading platform installed and then simply unzip the file and double-click on it to automatically install onto the platform.
Join Telegram Community
You can join a Telegram community and chat with other traders to discuss, share and ask for help.