The GRABBER indicator parameters are set by default for testing and trading on the currency pair AUDNZD. M5 timeframe!!
Set-files to configure GRABBER for use on H1 - all pairs (trade during the European, American, Asian and Pacific session) can be downloaded here - https://yadi.sk/d/eMhqYwA2rCCfsw
Set-files to configure GRABBER for use on M5 - all pairs (trade during the American and Asian session) can be downloaded here - https://yadi.sk/d/cc1ZB69loQXEQw
Set-files to configure GRABBER for use on M5 - some pairs (trade during the European, American, Asian and Pacific session) can be downloaded here - https://yadi.sk/d/zt5OGWCLIqIrog
GRABBER is not just an indicator, but a real trading system for manual scalping, in which several author’s technical indicators are combined at once for analyzing the market and defining trading goals.
How does GRABBER work?
Step 1 - using the FIBO CHANNEL indicator, the system builds a price channel, the boundaries and main levels of which are determined using the Fibonacci math formula.
Step 2 - using the GRABBER-1 indicator, pivot levels are determined outside of FIBO CHANNEL.
Step 3 - using a special filter, the distance of the pivot level from the borders of the price channel is measured.
Step 4 - after the quotes go beyond the price channel for a certain number of points and the reversal level occurs, the indicator gives an audiovisual signal and places on the chart:
- arrow-signal about the need to make a deal
- the level of location of the additional (averaging) limit order
- Take-Profit at one of the levels of FIBO CHANNEL
Step 5 - as the quotes move, the GRABBER-2 indicator trails the Take-Profit level, which makes it possible to close the deal at the most favorable price.
To obtain the best trading results, it is recommended to use trading accounts of the ECN type with a minimum spread.
GRABBER Manual Setup Options
- pp_Diap_for_In – the deviation from the border of the fibo-channel
- Input_Level_Buy - fibo-level for making a BUY
- Input_Level_Sell - fibo-level for making a SELL
- Out_Level_Buy - fibo-level to place Take Profit for BUY trades
- Out_Level_Sell - fibo-level to place Take Profit for SELL trades
- Number_Limit - number of limit orders
- pp_Diap_Limit - distance between limit orders
- Period_GRABBER_In - indicator period for opening trades
- Up_GRABBER_In - level for BUY
- Down_GRABBER_In - level for SELL
- Period_GRABBER_Out - indicator period for closing trades
- Up_GRABBER_Out - level for closing SELL
- Down_GRABBER_Out - level for closing BUY
- Period_Fibo_Indicator - period FIBO CHANNEL
- Fibo_Method - method of market analysis
- Fibo_Price - method of constructing a FIBO CHANNEL
- History_Bars - number of bars for market assessment