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.
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)
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
study(title='Buy Blue Sell Red', shorttitle='BBSR', overlay=true) // plot midline from Murrey Math for trifecta entry and exit // Inputs length = input(100, minval = 10, title = "Look back Length") mult = input(0.125, title = "Mutiplier; Only Supports 0.125 = 1/8") lines = input(true, title= "Show Murrey Math Fractals") bc = input(true, title = "Show Bar Colors Based On Oscillator") // Donchanin Channel hi = highest(high, length) lo = lowest(low, length) range = hi - lo multiplier = (range) * mult midline = lo + multiplier * 4 plot (midline) // end MMM line // vars emaPeriod = input(title="EMA Period", type=integer, defval=34) showWave = input(title="Show Wave", type=bool, defval=false) // build wave emaHigh = ema(high,emaPeriod) emaLow = ema(low,emaPeriod) emaClose = ema(close,emaPeriod) waveHigh = showWave == true ? emaHigh : na waveLow = showWave == true ? emaLow : na waveClose = showWave == true ? emaClose : na plot(waveHigh, title="EMA High",color=red ) plot(waveLow, title="EMA Low", color=blue) plot(waveClose, title="EMA Close", color=silver) // paint candles according to close position relative to wave barcolor(close < emaLow ? close > open ? red : maroon : close > emaHigh ? close > open ? blue : navy : close > open ? silver : gray)