The Wave consist of:
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.
For some details on how Raghee uses this indicator check out this:
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.