About – GRaB Candles, Darvas 2.0 and Propulsion Dots
These free studies are often used by Raghee Horner.
GRaB Candles, Darvas, and Propulsion Dots
NOTE: The premium version of GRaB Candles has an options for alerts in the study’s settings dialog. Otherwise, the premium and free versions are identical.
What are the GRaB Candles, Darvas 2.0 and Propulsion Dots?
These indicators are specifically designed and configured by Raghee Horner who is the Simpler Trading Futures, Forex and Currency trading expert. Her tools have been adopted by others in the Simpler Trading group and have been found to be a powerful asset to any traders arsenal of indicators.
How to read these indicators:
Up bars and down bars will dictate whether the candle is painted light or dark colors depending on if the bar is approaching or moving away from the 34 EMA wave. So if price is above the Green 34 EMA and price closes higher you will see a lighter green candle color. If price closes lower, i.e. closer to the EMA then the candle will be painted a darker green. And this goes for blue and light blue and red and dark red when the candles also approach those EMAs.
34 EMA Wave and GRaB Candles
The 34 EMA Wave plots three exponential moving averages, EMAs.
Green – 34 bar EMA of the price high, plotted green by default
Red – 34 bar EMA of the price low, plotted red by default
Blue – 34 bar EMA of the price close, plotted blue by default
Wave and GRaB show us, at a glance, the market sentiment and trend. We look to participate in trend moves (trending green or red) and to avoid indecision or chop (blue, or quick shifts between the three colors).
A Darvas level plots a horizontal line at new intermediate highs to lows. The color of the Darvas lines is either yellow, which indicates the level is plotting on a new relative high, or magenta, which indicates the level is plotting on a new relative lower high to lower low. We look to these levels as high probability zones for support or resistance. Previous Darvas zones can be extended to the right of the chart to find potential support or resistance levels. These are objective zones where the market has traded before which allows us to take a consistent approach to known support and resistance levels across all markets.
Arrows appear, when price breaks the Darvas Box. Green arrow under price indicator indicates long break. Conversely, a red arrow above price means a short break.
Propulsion Dots plot when the fast EMA is above the slow EMA. Dots indicate momentum and that the market is “pressing down on the accelerator” in the direction of the trend. Dots below GRaB Candles show the market has upward momentum while dots above GRaB Candles show the market has downward momentum. No Propulsion Dots can be an equally telling indicator, as the market may not have enough momentum behind it to break.