Measures price distance from extremes. Ranging closer to 0 means topping/bottoming (this can stay in this state for a long time), (price near extreme). Can be used to peak trend reversals(will need to keep doing tests with it)
interesting use of transparency of diff plots to make the chart readable! sometimes it appears you only need 3 of the plots to find the extremes, (the 3 shortest multipliers of the lookback period). However that is probably due to the instrument, forex, which tends to pivot frequently in a range, and the daily resolution of the chart. A good thing to toss into the toolbox!
Marzipug
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Wow! its like a piece of art (like many great indicators). Thank you for sharing
Marzipug
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@Marzipug, This is probably the only true 'leading indicator' imo
orion35
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it is great... Many thanks...
SumitJain
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hello?
how to trade this?
TIA.
RicardoSantos
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@SumitJain, EXPERIMENTAL --> Use at your own risk.