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EMA Wave and GRaB Candles by JustUncleL

This is a specialised Price Action Channel (PAC) or Wave that mirrors the indicator used by Raghee Horner, the "34EMA Wave and GRaB Candles".

The Wave consist of:

34 period exponential moving average on the high
34 period exponential moving average on the close
34 period exponential moving average on the low

The GRaB candles colour scheme:

Lime = Bull candle closed above Wave
Green = Bear candle closed above Wave
Red = Bull candle closed below Wave
DarkRed = Bear candle closed below Wave
Aqua = Bull candle closed inside Wave
Blue = Bear candle closed inside Wave

Optionally display a trend direction indication along bottom of chart.

References:
For some details on how Raghee uses this indicator check out this:
https://www.forexfactory.com/showthread.php?t=492080
Also her various training and webinar videos on Youtube

Note: This code is licensed under open source GPLv3 terms and conditions. Any modifications to it should be made public and linked to the original code.

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