The Grab indicator combines the features of both trend indicators and oscillators.
The indicator is a convenient tool for identifying short-term market cycles and determining the overbought or oversold levels of the market.
A long position can be opened when the indicator starts to leave the oversold zone and breaks through the zero level from the bottom up.
A short position can be opened when the indicator starts to leave the overbought zone and breaks through the zero level from top to bottom.
To exit the position, you can use the opposite signal of the indicator.
The “Inputs” tab of the indicator allows you to select the indicator period, as well as one of the four moving averages (Simple, Exponential, Smoothed, Linear weighted).
The “Parameters” tab of the indicator allows you to select one of the seven types of the applied price (Close, Open, High, Low, Median, Typical, Weighted).
The “Colors” tab of the indicator allows you to select the color, thickness, and style of the indicator line.
- period – the number of bars used to calculate the indicator;
- method-select from four moving averages;
- apply to-choose from seven types of applied price.