Update v1.1: GRaB colors now green, red, gray Added Murrey Range lines. Cleaned up the code.
GRaB candles and a murrey math "midline" in one script. Some traders using methods of Rob Booker (40% club, trifecta5) like to use both GRaB candles and Murrey Math to combine, or to compare entry and exit moments. Color of candles are as GRaB candles. Midline use: Crossing the midline is a change of color in murrey. Candles closing above the midline would be green and below would be red as murrey candles.
Credits: Original script of Raghee Horner's GRaB Candles by Matt Lacoco (BUY BLUE SELL RED). Murrey Math Midline added by Harold van Berk (most code copied from "UCS_Murrey's Math Oscillator_V2" by ucsgears)
Candle colors defined by GRaB Green bulish, Red bearish, Gray neutral
Dark for close lower than open Light for close higher than open
Candles that close above the Murrey Math Middle line would normally be (murrey) green. Below would be (murrey) red.
Murrey lines can be switched off in "format" of the indicator.
This is a great way to color the bars. Also, it looks like it might operate exactly around the ReverseEngineeringRSI line. In checking some charts, it appears that everytime the bar us below the ReverseEngineeringRSI line, they are colored red, and vice versa for green. Which is great, because I have been using the ReverseEngineeringRSI line for some time now, and it always seems to be a touch point for the index. If it's going down, any bullish divergence usually only makes it exactly to the ReverseEngineeringRSI line, and then back down. As if it's not allowed to pass that line.
This is great because it will help re-affirm my position and not make any quick decisions.
This is great because it will help re-affirm my position and not make any quick decisions.
Thanks.